Martingale Asset Management L P Sells 1,877 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Martingale Asset Management L P reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 53.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,618 shares of the business services provider’s stock after selling 1,877 shares during the period. Martingale Asset Management L P’s holdings in Broadridge Financial Solutions were worth $348,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vinva Investment Management Ltd increased its holdings in Broadridge Financial Solutions by 50.4% in the third quarter. Vinva Investment Management Ltd now owns 6,771 shares of the business services provider’s stock worth $1,436,000 after purchasing an additional 2,269 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Broadridge Financial Solutions by 4.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,840 shares of the business services provider’s stock worth $1,041,000 after buying an additional 200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadridge Financial Solutions by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after acquiring an additional 20,775 shares in the last quarter. Fiduciary Trust Co lifted its position in shares of Broadridge Financial Solutions by 1.4% during the 3rd quarter. Fiduciary Trust Co now owns 4,475 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 61 shares during the period. Finally, FORA Capital LLC boosted its stake in Broadridge Financial Solutions by 1.4% during the third quarter. FORA Capital LLC now owns 4,635 shares of the business services provider’s stock worth $997,000 after acquiring an additional 66 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $232.09 on Wednesday. The company has a market cap of $27.13 billion, a PE ratio of 40.15 and a beta of 1.07. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.74. The business has a 50 day moving average price of $220.54 and a 200-day moving average price of $210.81.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,294 shares of company stock worth $16,944,095. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley upped their price target 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. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $222.43.

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.