Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,667 shares of the business services provider’s stock after selling 1,115 shares during the period. Patton Fund Management Inc.’s holdings in Broadridge Financial Solutions were worth $4,444,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BR. nVerses Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $151,000. Transform Wealth LLC grew its position in Broadridge Financial Solutions by 1.6% in the third quarter. Transform Wealth LLC now owns 40,352 shares of the business services provider’s stock valued at $8,711,000 after acquiring an additional 618 shares in the last quarter. Piscataqua Savings Bank raised its stake in shares of Broadridge Financial Solutions by 88.0% during the third quarter. Piscataqua Savings Bank now owns 235 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 110 shares during the period. Swedbank AB lifted its position in shares of Broadridge Financial Solutions by 2.9% during the third quarter. Swedbank AB now owns 25,135 shares of the business services provider’s stock worth $5,405,000 after purchasing an additional 715 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Broadridge Financial Solutions by 0.8% in the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after purchasing an additional 45 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. 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 research report on Tuesday, August 20th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded down $0.60 during midday trading on Thursday, hitting $218.63. The company’s stock had a trading volume of 67,960 shares, compared to its average volume of 523,473. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $224.32. The firm’s fifty day moving average price is $212.49 and its 200-day moving average price is $204.93. The firm has a market cap of $25.84 billion, a P/E ratio of 37.41 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion during 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%. Broadridge Financial Solutions’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.21 earnings per share. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.88 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction dated 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 transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Christopher John Perry sold 17,534 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This 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, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the sale, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is owned by 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.