JPMorgan Chase & Co. Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

JPMorgan Chase & Co. decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 44.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 423,712 shares of the business services provider's stock after selling 335,670 shares during the quarter. JPMorgan Chase & Co. owned 0.36% of Broadridge Financial Solutions worth $91,111,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC grew its position in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock worth $26,000 after purchasing an additional 96 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. True Wealth Design LLC grew its holdings in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after acquiring an additional 142 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in Broadridge Financial Solutions during the third quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the firm's stock in a transaction 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 directly owns 27,788 shares of the company's stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,532 shares of company stock valued at $12,264,846. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

BR stock traded up $2.40 during trading on Friday, hitting $229.23. The stock had a trading volume of 553,388 shares, compared to its average volume of 590,144. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The company's 50-day moving average price is $227.02 and its two-hundred day moving average price is $215.82. 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 $26.79 billion, a P/E ratio of 39.66 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $1.09 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm 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 $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 60.90%.

Wall Street Analysts Forecast Growth

BR has been the subject of several recent research reports. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group started coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a "neutral" rating and a $250.00 price objective for the company. 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. DA Davidson lifted 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. Finally, Morgan Stanley upped their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $226.71.

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.