Advisors Asset Management Inc. Sells 310 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Advisors Asset Management Inc. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 63,741 shares of the business services provider’s stock after selling 310 shares during the period. Advisors Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $13,706,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth approximately $37,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $224.84 on Wednesday. Broadridge Financial Solutions, Inc. has a 52 week low of $182.57 and a 52 week high of $230.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The company’s 50 day moving average price is $216.50 and its two-hundred day moving average price is $208.63. The company has a market capitalization of $26.28 billion, a P/E ratio of 38.90 and a beta of 1.05.

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

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BR shares. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. 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 report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $217.83.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,033 shares of company stock worth $23,382,322 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions 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.