Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,564 shares of the business services provider’s stock after selling 24,832 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Broadridge Financial Solutions worth $20,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $44,746,000. Assenagon Asset Management S.A. increased its holdings in Broadridge Financial Solutions by 3,197.8% in the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after buying an additional 198,169 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions in the third quarter worth about $274,650,000. BNP Paribas Financial Markets boosted its stake in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after acquiring an additional 98,275 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Broadridge Financial Solutions by 8.3% during the 2nd 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. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 0.1 %

BR opened at $236.02 on Friday. The firm has a market capitalization of $27.59 billion, a price-to-earnings ratio of 40.83 and a beta of 1.05. The company’s 50 day simple moving average is $219.51 and its two-hundred day simple moving average is $210.20. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.74. 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 data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping 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 company 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 company posted $1.09 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS 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 paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. This represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,294 shares of company stock worth $16,944,095 in the last ninety days. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BR shares. Morgan Stanley upped their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of 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 report on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $222.43.

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.