Dearborn Partners LLC Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Dearborn Partners LLC trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,497 shares of the business services provider's stock after selling 3,598 shares during the period. Dearborn Partners LLC owned about 0.11% of Broadridge Financial Solutions worth $28,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BR. Bogart Wealth LLC grew its position in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock worth $26,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $34,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $37,000. Institutional investors own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the transaction, the chief executive officer now owns 206,349 shares of the company's stock, valued at $43,190,909.19. The trade was a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares of the company's stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,696 shares of company stock valued at $24,782,982 over the last 90 days. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

BR has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. StockNews.com lowered 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 report on Wednesday, November 6th. Finally, Morgan Stanley increased their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus price target of $217.83.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.20 during mid-day trading on Friday, reaching $227.36. 269,372 shares of the stock traded hands, compared to its average volume of 519,006. Broadridge Financial Solutions, Inc. has a 12-month low of $180.31 and a 12-month high of $230.00. The business's 50-day moving average is $215.55 and its 200-day moving average is $207.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $26.58 billion, a PE ratio of 39.43 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. Broadridge Financial Solutions's payout ratio is currently 60.90%.

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.