Mount Lucas Management LP Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mount Lucas Management LP cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 42.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,463 shares of the business services provider’s stock after selling 5,611 shares during the period. Mount Lucas Management LP’s holdings in Broadridge Financial Solutions were worth $1,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. grew its holdings in Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after buying an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Broadridge Financial Solutions by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC increased its position in shares of Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 50 shares during the last quarter. TIAA Trust National Association raised its holdings in Broadridge Financial Solutions by 1.0% in the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after buying an additional 52 shares during the period. Finally, Brighton Jones LLC lifted its position in Broadridge Financial Solutions by 2.5% in the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after buying an additional 52 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Up 0.1 %

NYSE:BR opened at $227.78 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $180.31 and a 1 year high of $230.00. The stock has a market cap of $26.63 billion, a P/E ratio of 39.41 and a beta of 1.05. The stock has a 50-day simple moving average of $215.95 and a 200-day simple moving average of $208.12.

Broadridge Financial Solutions (NYSE:BR) last posted its 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $217.83.

Insider Activity

In other news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 162 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the transaction, the president now owns 67,267 shares of the company’s stock, valued at $14,126,070. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,696 shares of company stock valued at $24,782,982. Insiders own 1.30% of the company’s stock.

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.