Sanctuary Advisors LLC Acquires 3,761 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sanctuary Advisors LLC boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 26.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,098 shares of the business services provider's stock after buying an additional 3,761 shares during the quarter. Sanctuary Advisors LLC's holdings in Broadridge Financial Solutions were worth $4,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Qsemble Capital Management LP purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at about $1,412,000. Atria Investments Inc increased its holdings in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider's stock valued at $6,373,000 after acquiring an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $483,000. Quest Partners LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter worth about $2,251,000. Finally, Legacy Capital Wealth Partners LLC grew its position in 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 valued at $1,528,000 after purchasing an additional 3,216 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $2.23 on Tuesday, hitting $229.69. 634,374 shares of the company traded hands, compared to its average volume of 517,949. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The business has a 50-day simple moving average of $224.77 and a 200 day simple moving average of $213.25. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96. The stock has a market capitalization of $26.85 billion, a P/E ratio of 40.12 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The business 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 business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. Research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. Broadridge Financial Solutions's dividend payout ratio is currently 60.90%.

Insider Buying and Selling

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BR. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson boosted their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $226.71.

Broadridge Financial Solutions Company 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.