EP Wealth Advisors LLC Sells 2,334 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

EP Wealth Advisors LLC reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 27.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,228 shares of the business services provider's stock after selling 2,334 shares during the period. EP Wealth Advisors LLC's holdings in Broadridge Financial Solutions were worth $1,339,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock valued at $1,118,644,000 after buying an additional 51,439 shares in the last quarter. Stifel Financial Corp boosted its position 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 worth $342,856,000 after purchasing an additional 5,813 shares during the period. Bahl & Gaynor Inc. boosted its position 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 worth $218,447,000 after purchasing an additional 6,634 shares during the period. Dimensional Fund Advisors LP increased its stake 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 worth $185,417,000 after purchasing an additional 72,018 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Broadridge Financial Solutions by 2.3% during the 3rd 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 purchasing an additional 20,775 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $2.33 during mid-day trading on Tuesday, reaching $235.90. 341,775 shares of the company's stock traded hands, compared to its average volume of 520,192. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The company has a market cap of $27.57 billion, a price-to-earnings ratio of 40.76 and a beta of 1.07. The stock has a 50 day moving average of $222.78 and a two-hundred day moving average of $211.94. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

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, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $1.09 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on BR shares. Royal Bank of Canada reissued an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. DA Davidson raised their target price on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of 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, UBS Group started coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a "neutral" rating and a $250.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $226.71.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maura A. Markus sold 3,880 shares of the 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 completion of the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Company insiders own 1.30% of the company's stock.

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.