Eagle Bay Advisors LLC Trims Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Eagle Bay Advisors LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,654 shares of the business services provider’s stock after selling 301 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Broadridge Financial Solutions were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ballentine Partners LLC grew its position in Broadridge Financial Solutions by 5.2% during the 1st quarter. Ballentine Partners LLC now owns 1,572 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 77 shares during the last quarter. Brookstone Capital Management bought a new position in Broadridge Financial Solutions during the 1st quarter valued at about $253,000. Wealth Enhancement Advisory Services LLC lifted its stake in Broadridge Financial Solutions by 86.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,814 shares of the business services provider’s stock valued at $6,108,000 after acquiring an additional 13,851 shares during the period. Transform Wealth LLC lifted its stake in Broadridge Financial Solutions by 6.2% during the 1st quarter. Transform Wealth LLC now owns 39,098 shares of the business services provider’s stock valued at $8,040,000 after acquiring an additional 2,290 shares during the period. Finally, New England Research & Management Inc. bought a new position in Broadridge Financial Solutions during the 1st quarter valued at about $1,465,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded down $0.56 during trading on Wednesday, hitting $216.34. The company’s stock had a trading volume of 40,869 shares, compared to its average volume of 520,164. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $224.32. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 36.89 and a beta of 1.05. The company has a 50-day moving average of $212.93 and a 200-day moving average of $205.43. 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 (NYSE:BR) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business earned $3.21 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid 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 1.63%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction 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. In the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BR. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $213.33.

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.