BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,716 shares of the business services provider’s stock after selling 2,840 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Broadridge Financial Solutions were worth $4,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in 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 acquiring an additional 96 shares during the period. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Hazlett Burt & Watson Inc. bought a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $38,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions during the 2nd quarter valued at approximately $37,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 0.9 %

Shares of NYSE BR opened at $232.09 on Wednesday. The stock has a market capitalization of $27.13 billion, a P/E ratio of 40.15 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.74. The business’s 50 day moving average is $220.54 and its two-hundred day moving average is $210.81. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.52%. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the firm’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 transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,294 shares of company stock worth $16,944,095. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BR shares. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. UBS Group started coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $222.43.

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.