King Luther Capital Management Corp Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

King Luther Capital Management Corp cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,859 shares of the business services provider's stock after selling 11,056 shares during the period. King Luther Capital Management Corp owned 0.22% of Broadridge Financial Solutions worth $55,447,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. First Horizon Advisors Inc. grew its stake in Broadridge Financial Solutions by 16.9% in the third quarter. First Horizon Advisors Inc. now owns 1,105 shares of the business services provider's stock worth $238,000 after purchasing an additional 160 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Broadridge Financial Solutions in the third quarter worth $4,407,000. Prospera Private Wealth LLC bought a new stake in Broadridge Financial Solutions in the third quarter worth $51,000. PNC Financial Services Group Inc. boosted its holdings in Broadridge Financial Solutions by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 49,948 shares of the business services provider's stock worth $10,740,000 after acquiring an additional 504 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Broadridge Financial Solutions in the third quarter worth $44,746,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BR. Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price 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. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Finally, Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Four 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, the company currently has a consensus rating of "Hold" and an average price target of $217.83.

Broadridge Financial Solutions Price Performance

BR opened at $225.39 on Thursday. The business has a fifty day moving average of $216.78 and a 200 day moving average of $208.75. Broadridge Financial Solutions, Inc. has a 52-week low of $183.60 and a 52-week high of $230.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market cap of $26.35 billion, a P/E ratio of 38.99 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.03. The business 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%. Broadridge Financial Solutions's revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions's payout ratio is 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares in the company, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. This represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,033 shares of company stock valued at $23,382,322 in the last ninety days. Corporate 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.

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