Meridiem Investment Management Ltd. Sells 30,453 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Meridiem Investment Management Ltd. decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,078,269 shares of the business services provider’s stock after selling 30,453 shares during the period. Broadridge Financial Solutions comprises approximately 4.1% of Meridiem Investment Management Ltd.’s holdings, making the stock its 14th largest position. Meridiem Investment Management Ltd.’s holdings in Broadridge Financial Solutions were worth $231,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New England Research & Management Inc. purchased a new stake in shares of Broadridge Financial Solutions in the first quarter worth $1,465,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after acquiring an additional 43,710 shares during the period. Tidal Investments LLC grew its position in shares of Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares in the last quarter. QRG Capital Management Inc. raised its stake in Broadridge Financial Solutions by 72.7% during the 1st quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock valued at $1,436,000 after purchasing an additional 2,950 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Broadridge Financial Solutions by 5.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded up $0.85 during trading hours on Friday, reaching $219.10. The company’s stock had a trading volume of 288,568 shares, compared to its average volume of 523,998. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $224.32. The firm has a 50 day moving average price of $212.64 and a 200-day moving average price of $205.13. The stock has a market cap of $25.89 billion, a P/E ratio of 37.39 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 earnings per share. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Insider Activity

In related news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Christopher John Perry sold 162 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the transaction, the president now directly owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by company insiders.

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.