Mount Lucas Management LP Decreases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mount Lucas Management LP reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 42.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,463 shares of the business services provider's stock after selling 5,611 shares during the quarter. Mount Lucas Management LP's holdings in Broadridge Financial Solutions were worth $1,605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 8.0% during the 3rd quarter. Natixis Advisors LLC now owns 106,683 shares of the business services provider's stock worth $22,940,000 after buying an additional 7,866 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Broadridge Financial Solutions by 32.5% in the third quarter. Empowered Funds LLC now owns 2,468 shares of the business services provider's stock worth $531,000 after acquiring an additional 606 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Broadridge Financial Solutions by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 3,955 shares of the business services provider's stock valued at $850,000 after purchasing an additional 87 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 0.5% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 31,952 shares of the business services provider's stock valued at $6,871,000 after purchasing an additional 163 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Broadridge Financial Solutions by 7.2% during the 3rd quarter. CIBC Asset Management Inc now owns 17,244 shares of the business services provider's stock worth $3,708,000 after purchasing an additional 1,161 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Christopher John Perry sold 162 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares of the company's stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,696 shares of company stock valued at $24,782,982 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of BR traded up $0.22 during trading hours on Friday, reaching $227.78. The stock had a trading volume of 583,317 shares, compared to its average volume of 470,055. The company has a market capitalization of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05. The firm has a 50-day simple moving average of $215.95 and a 200 day simple moving average of $208.12. 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 12 month low of $180.31 and a 12 month high of $230.00.

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, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions's dividend payout ratio is currently 60.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BR shares. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of "Hold" and an average price target of $217.83.

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.