Strategy Asset Managers LLC Sells 2,620 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Strategy Asset Managers LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 58.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,884 shares of the business services provider's stock after selling 2,620 shares during the period. Strategy Asset Managers LLC's holdings in Broadridge Financial Solutions were worth $371,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BR. Confluence Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the first quarter valued at $144,033,000. APG Asset Management US Inc. bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $70,498,000. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider's stock valued at $286,360,000 after acquiring an additional 323,051 shares during the period. Finally, Veritas Investment Partners UK Ltd. grew its stake in Broadridge Financial Solutions by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider's stock valued at $210,031,000 after acquiring an additional 147,293 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

NYSE BR traded down $1.12 during trading hours on Thursday, reaching $210.82. 699,960 shares of the stock traded hands, compared to its average volume of 526,725. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $208.25 and a two-hundred day simple moving average of $202.59. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 35.98 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts' consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $3.21 EPS. Broadridge Financial Solutions's quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.80. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 60.07%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. DA Davidson reissued a "neutral" rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.33.

Insiders Place Their Bets

In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Timothy C. Gokey sold 25,000 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leslie A. Brun sold 5,739 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $210.05, for a total transaction of $1,205,476.95. Following the completion of the sale, the director now directly owns 77,318 shares in the company, valued at approximately $16,240,645.90. The disclosure for this sale can be found here. Insiders sold 94,914 shares of company stock valued at $19,815,248 over the last three months. Insiders own 1.60% 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.