Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Barclays PLC

Barclays PLC lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,608,021 shares of the business services provider's stock after selling 54,032 shares during the period. Barclays PLC owned about 1.38% of Broadridge Financial Solutions worth $345,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Qsemble Capital Management LP acquired a new stake in Broadridge Financial Solutions in the third quarter valued at $1,412,000. Atria Investments Inc lifted its holdings in shares of Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider's stock valued at $6,373,000 after purchasing an additional 2,610 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Broadridge Financial Solutions by 22.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider's stock valued at $7,191,000 after purchasing an additional 6,690 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $483,000. Finally, Legacy Capital Wealth Partners LLC raised its position in shares of Broadridge Financial Solutions by 82.7% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider's stock worth $1,528,000 after purchasing an additional 3,216 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on BR. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a "neutral" rating and a $250.00 target price on the stock. DA Davidson lifted their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a "neutral" rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $226.71.

Broadridge Financial Solutions Stock Up 1.0 %

BR stock traded up $2.33 during midday trading on Tuesday, hitting $235.90. 341,775 shares of the company's stock were exchanged, compared to its average volume of 520,192. The firm has a 50 day moving average price of $223.21 and a 200-day moving average price of $212.19. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 40.81 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

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

Broadridge Financial Solutions Dividend Announcement

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 paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions's payout ratio is currently 60.90%.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,880 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now owns 27,788 shares of the company's stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares of the company's stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock valued at $12,264,846 in the last quarter. 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.