Cornercap Investment Counsel Inc. Sells 1,738 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cornercap Investment Counsel Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,475 shares of the business services provider’s stock after selling 1,738 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Broadridge Financial Solutions were worth $747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BR. Bogart Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions in the second quarter worth approximately $32,000. New Covenant Trust Company N.A. purchased a new stake in Broadridge Financial Solutions during the 1st quarter valued at $34,000. Finally, Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the sale, the chief executive officer now owns 206,349 shares in the company, valued at approximately $43,190,909.19. The trade was a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,696 shares of company stock worth $24,782,982 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $227.78 on Friday. The stock has a market cap of $26.63 billion, a PE ratio of 39.41 and a beta of 1.05. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The business’s 50-day simple moving average is $215.95 and its two-hundred day simple moving average is $208.02. Broadridge Financial Solutions, Inc. has a 52 week low of $180.31 and a 52 week high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BR. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Company Profile

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.