SVB Wealth LLC Sells 3,132 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

SVB Wealth LLC lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,978 shares of the business services provider's stock after selling 3,132 shares during the period. SVB Wealth LLC owned approximately 0.07% of Broadridge Financial Solutions worth $17,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of Broadridge Financial Solutions by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider's stock worth $2,001,000 after acquiring an additional 50 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its position in shares of Broadridge Financial Solutions by 4.5% in the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider's stock worth $242,000 after purchasing an additional 51 shares during the period. TIAA Trust National Association boosted its stake in shares of Broadridge Financial Solutions by 1.0% in the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider's stock valued at $1,120,000 after purchasing an additional 52 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Broadridge Financial Solutions by 3.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider's stock valued at $324,000 after purchasing an additional 55 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Broadridge Financial Solutions by 10.3% during the first quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider's stock worth $114,000 after buying an additional 55 shares during the period. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 1.5 %

Broadridge Financial Solutions stock traded down $3.26 during midday trading on Friday, reaching $207.59. The stock had a trading volume of 632,306 shares, compared to its average volume of 528,298. The company has a fifty day moving average price of $208.46 and a two-hundred day moving average price of $202.71. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $24.53 billion, a P/E ratio of 35.42 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate 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 firm 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 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 60.07%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BR shares. Royal Bank of Canada upped their price target 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. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Wednesday, August 28th. Finally, DA Davidson restated a "neutral" rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $213.33.

Insider Activity

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

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.