Parnassus Investments LLC Sells 18,206 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Parnassus Investments LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,161 shares of the business services provider's stock after selling 18,206 shares during the period. Parnassus Investments LLC owned about 0.42% of Broadridge Financial Solutions worth $105,399,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC boosted its holdings in Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider's stock valued at $3,627,000 after purchasing an additional 8,837 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Broadridge Financial Solutions by 5.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider's stock worth $11,329,000 after acquiring an additional 2,685 shares in the last quarter. Atria Investments Inc lifted 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 during the period. BDF Gestion acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $3,954,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Broadridge Financial Solutions by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider's stock worth $853,898,000 after purchasing an additional 28,180 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Down 1.0 %

BR traded down $2.24 during mid-day trading on Tuesday, reaching $224.84. The stock had a trading volume of 382,859 shares, compared to its average volume of 519,390. The stock has a market capitalization of $26.28 billion, a P/E ratio of 38.90 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $182.57 and a 52 week high of $230.00. 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 firm's fifty day simple moving average is $216.28 and its two-hundred day simple moving average is $208.45.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. The firm 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 was down .6% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm 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 $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. Broadridge Financial Solutions's payout ratio is presently 60.90%.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,880 shares of the 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 sale, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas P. Carey sold 10,757 shares of the 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 completion of the sale, the vice president now owns 12,689 shares of the company's stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,534 shares of company stock valued at $24,748,962. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on BR. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus price target of $217.83.

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.