2,613 Broadridge Financial Solutions, Inc. $BR Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,490 shares of the business services provider’s stock after selling 2,613 shares during the quarter. SVB Wealth LLC’s holdings in Broadridge Financial Solutions were worth $2,656,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Broadridge Financial Solutions by 218.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after purchasing an additional 10,266 shares during the last quarter. Western Wealth Management LLC bought a new position in Broadridge Financial Solutions during the 1st quarter worth $959,000. Andra AP fonden raised its position in Broadridge Financial Solutions by 96.5% during the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock worth $23,385,000 after purchasing an additional 83,857 shares during the last quarter. Empowered Funds LLC lifted its holdings in Broadridge Financial Solutions by 29.9% during the 1st quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider’s stock worth $7,869,000 after buying an additional 11,152 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth about $910,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 4th. Weiss Ratings raised Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 4th. DA Davidson reiterated a “buy” rating and issued a $214.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, October 27th. Finally, Royal Bank Of Canada increased their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $212.71.

Broadridge Financial Solutions Trading Down 0.7%

NYSE BR opened at $191.56 on Friday. The stock has a market capitalization of $21.67 billion, a P/E ratio of 21.17 and a beta of 0.90. The business has a 50 day simple moving average of $173.03 and a 200 day simple moving average of $165.53. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 1.21. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $233.10.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.19. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 10.58 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 10th will be paid a $1.09 dividend. The ex-dividend date is Thursday, December 10th. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. Broadridge Financial Solutions’s payout ratio is currently 48.18%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,180 shares of the firm’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $191.89, for a total value of $610,210.20. Following the completion of the sale, the director directly owned 33,769 shares in the company, valued at approximately $6,479,933.41. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Thomas P. Carey sold 2,501 shares of Broadridge Financial Solutions stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the sale, the vice president directly owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by insiders.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.