Ascent Wealth Partners LLC Decreases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Ascent Wealth Partners LLC lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.6% during the third quarter, Holdings Channel.com reports. The firm owned 1,440 shares of the business services provider’s stock after selling 69 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Broadridge Financial Solutions were worth $310,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BR. Assenagon Asset Management S.A. raised its position in Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the third quarter valued at about $274,650,000. Earnest Partners LLC increased its position in shares of Broadridge Financial Solutions by 25.9% in the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock valued at $74,609,000 after acquiring an additional 75,006 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after acquiring an additional 72,018 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Broadridge Financial Solutions by 97.2% in the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock valued at $21,689,000 after acquiring an additional 52,171 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.2 %

Shares of BR traded down $0.39 during trading hours on Thursday, reaching $219.07. 7,484 shares of the company traded hands, compared to its average volume of 518,675. The company’s fifty day moving average price is $213.86 and its two-hundred day moving average price is $206.59. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of 37.43 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12 month low of $175.21 and a 12 month high of $225.29.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on BR. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their price objective 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $217.83.

Insider Buying and Selling

In related news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,713 shares of company stock valued at $27,967,456 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.