Logan Capital Management Inc. Cuts Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Logan Capital Management Inc. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 50.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,959 shares of the business services provider's stock after selling 13,389 shares during the period. Logan Capital Management Inc.'s holdings in Broadridge Financial Solutions were worth $2,787,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BR. Qsemble Capital Management LP bought a new stake in Broadridge Financial Solutions in the 3rd quarter worth about $1,412,000. Atria Investments Inc grew its stake in shares of Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider's stock worth $6,373,000 after acquiring an additional 2,610 shares during the period. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $483,000. Quest Partners LLC bought a new position in Broadridge Financial Solutions during the third quarter valued at approximately $2,251,000. Finally, Legacy Capital Wealth Partners LLC boosted its holdings in Broadridge Financial Solutions by 82.7% in the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider's stock worth $1,528,000 after purchasing an additional 3,216 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BR. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. DA Davidson increased their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a "neutral" rating and a $250.00 price target on the stock. Finally, Morgan Stanley raised their target price 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $226.71.

Insider Buying and Selling

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company's stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 15,710 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now directly owns 12,146 shares of the company's stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock worth $12,264,846 over the last three months. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded down $1.47 during mid-day trading on Friday, reaching $233.53. The stock had a trading volume of 366,702 shares, compared to its average volume of 517,704. The business's 50 day moving average price is $224.43 and its 200 day moving average price is $212.87. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $237.96. The company has a market cap of $27.30 billion, a P/E ratio of 40.40 and a beta of 1.07. 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 (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. Broadridge Financial Solutions's quarterly revenue was down .6% on a year-over-year basis. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

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.