Franklin Resources Inc. Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Franklin Resources Inc. lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 929,083 shares of the business services provider's stock after selling 30,386 shares during the period. Franklin Resources Inc. owned approximately 0.79% of Broadridge Financial Solutions worth $205,801,000 at the end of the most recent quarter.

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

Broadridge Financial Solutions Price Performance

BR traded down $1.47 during trading on Friday, hitting $233.53. The company's stock had a trading volume of 366,702 shares, compared to its average volume of 517,704. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The business's fifty day simple moving average is $224.43 and its 200 day simple moving average is $212.87. The firm has a market capitalization of $27.30 billion, a price-to-earnings ratio of 40.40 and a beta of 1.07.

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 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion for 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%. Broadridge Financial Solutions's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions's dividend payout ratio is presently 60.90%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction 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 sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the business's stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 over the last ninety days. Insiders own 1.30% of the company's stock.

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.