Penserra Capital Management LLC Sells 3,281 Shares of Broadridge Financial Solutions, Inc. $BR

Penserra Capital Management LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 83.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637 shares of the business services provider’s stock after selling 3,281 shares during the period. Penserra Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vestmark Advisory Solutions Inc. increased its holdings in Broadridge Financial Solutions by 19.8% in the second quarter. Vestmark Advisory Solutions Inc. now owns 9,530 shares of the business services provider’s stock worth $2,316,000 after purchasing an additional 1,576 shares in the last quarter. Atlas Legacy Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 25.4% in the 2nd quarter. Atlas Legacy Advisors LLC now owns 3,065 shares of the business services provider’s stock valued at $745,000 after acquiring an additional 620 shares in the last quarter. Savant Capital LLC lifted its position in shares of Broadridge Financial Solutions by 9.8% during the 2nd quarter. Savant Capital LLC now owns 6,452 shares of the business services provider’s stock valued at $1,568,000 after acquiring an additional 575 shares during the period. Eukles Asset Management lifted its position in shares of Broadridge Financial Solutions by 1.8% during the 2nd quarter. Eukles Asset Management now owns 4,367 shares of the business services provider’s stock valued at $1,061,000 after acquiring an additional 76 shares during the period. Finally, Achmea Investment Management B.V. grew its holdings in Broadridge Financial Solutions by 13.1% in the second quarter. Achmea Investment Management B.V. now owns 5,880 shares of the business services provider’s stock worth $1,429,000 after purchasing an additional 682 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 5,674 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the transaction, the chief executive officer owned 143,285 shares of the company’s stock, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BR shares. UBS Group dropped their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday. Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson reaffirmed a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Tuesday. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $225.49 on Friday. The business’s fifty day moving average is $234.29 and its 200 day moving average is $241.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 28.87 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a twelve month low of $212.33 and a twelve month high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The firm had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions’s payout ratio is currently 49.94%.

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.