Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,081 shares of the business services provider's stock after selling 6,210 shares during the quarter. Anchor Capital Advisors LLC owned approximately 0.17% of Broadridge Financial Solutions worth $39,416,000 at the end of the most recent quarter.

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

Broadridge Financial Solutions Stock Down 1.5 %

Shares of BR traded down $3.26 during midday trading on Friday, reaching $207.59. 632,306 shares of the company were exchanged, compared to its average volume of 528,298. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The stock has a 50-day moving average price of $208.46 and a 200-day moving average price of $202.75. 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 cap of $24.53 billion, a price-to-earnings ratio of 35.42 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly 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 firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the prior year, the business earned $3.21 EPS. Broadridge Financial Solutions's quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

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

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Laura Matlin sold 673 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction on 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,914 shares of company stock valued at $19,815,248. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.