Jensen Investment Management Inc. Sells 38,597 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Jensen Investment Management Inc. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,738,280 shares of the business services provider's stock after selling 38,597 shares during the period. Broadridge Financial Solutions accounts for 2.8% of Jensen Investment Management Inc.'s portfolio, making the stock its 15th biggest holding. Jensen Investment Management Inc. owned about 1.47% of Broadridge Financial Solutions worth $342,441,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Confluence Investment Management LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at about $144,033,000. APG Asset Management US Inc. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $70,498,000. Norges Bank bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Broadridge Financial Solutions by 28.6% in the 4th 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 buying an additional 323,051 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. grew its position in Broadridge Financial Solutions by 16.9% in the 4th 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 buying an additional 147,293 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Wednesday, August 28th. Finally, DA Davidson restated a "neutral" rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Down 1.5 %

BR stock traded down $3.18 during mid-day trading on Friday, reaching $207.67. 632,306 shares of the stock traded hands, compared to its average volume of 528,298. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The company has a market cap of $24.54 billion, a P/E ratio of 35.44 and a beta of 1.05. The stock's fifty day moving average is $208.46 and its 200-day moving average is $202.66.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 dividend yield of 1.69%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions's dividend payout ratio is 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares of the company's stock, valued at $41,963,149.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Leslie A. Brun sold 5,739 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $210.05, for a total transaction of $1,205,476.95. Following the transaction, the director now owns 77,318 shares of the company's stock, valued at $16,240,645.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. 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. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Company 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.