MML Investors Services LLC Sells 2,254 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

MML Investors Services LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,448 shares of the business services provider's stock after selling 2,254 shares during the quarter. MML Investors Services LLC's holdings in Broadridge Financial Solutions were worth $7,622,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock valued at $1,118,644,000 after acquiring an additional 51,439 shares during the period. Stifel Financial Corp raised its holdings in shares of Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after buying an additional 5,813 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Broadridge Financial Solutions by 0.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider's stock valued at $218,447,000 after buying an additional 6,634 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider's stock valued at $185,417,000 after buying an additional 72,018 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadridge Financial Solutions by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock valued at $194,585,000 after buying an additional 20,775 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BR shares. UBS Group started coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a "neutral" rating and a $250.00 price target for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. DA Davidson lifted their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday. 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 research report on Tuesday, August 20th. Six equities 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, the stock presently has an average rating of "Hold" and an average price target of $226.71.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of Broadridge Financial Solutions stock traded up $0.30 during trading on Thursday, hitting $235.89. 321,271 shares of the company were exchanged, compared to its average volume of 518,702. The firm has a market capitalization of $27.57 billion, a P/E ratio of 40.78 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.96. The firm's fifty day moving average price is $223.65 and its 200 day moving average price is $212.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is presently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the business's 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 directly 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 this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the business's stock in a transaction that occurred 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 completion of 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. In the last three months, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by company insiders.

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.