Patton Fund Management Inc. Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions in the second quarter valued at $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions in the first quarter valued at $34,000. Family Firm Inc. acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth $37,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Broadridge Financial Solutions by 65.5% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock worth $39,000 after purchasing an additional 78 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Laura Matlin sold 673 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $0.60 during trading on Thursday, hitting $218.63. 67,960 shares of the company were exchanged, compared to its average volume of 523,473. The firm has a 50 day moving average price of $212.49 and a 200 day moving average price of $204.93. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of 37.41 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.88 per share. This is an increase 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 annualized dividend and a dividend yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

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.