Northwest Investment Counselors LLC Lowers Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Northwest Investment Counselors LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,117 shares of the business services provider’s stock after selling 137 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Broadridge Financial Solutions were worth $1,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. EdgeRock Capital LLC bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the 1st quarter worth $34,000. Family Firm Inc. bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth $37,000. Finally, Anfield Capital Management LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 over the last three months. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Down 0.0 %

Broadridge Financial Solutions stock traded down $0.07 during trading hours on Monday, hitting $219.03. The stock had a trading volume of 163,635 shares, compared to its average volume of 522,222. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $25.88 billion, a P/E ratio of 37.35 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $224.32. The stock’s 50-day moving average price is $212.64 and its 200-day moving average price is $205.19.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. The ex-dividend date was Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.61%. Broadridge Financial Solutions’s payout ratio is 60.07%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.