Candriam S.C.A. Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Candriam S.C.A. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 31.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,962 shares of the business services provider's stock after selling 28,795 shares during the quarter. Candriam S.C.A. owned about 0.05% of Broadridge Financial Solutions worth $12,600,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. New England Research & Management Inc. bought a new stake in Broadridge Financial Solutions during the first quarter worth approximately $1,465,000. Bank of Nova Scotia raised its stake in shares of Broadridge Financial Solutions by 642.3% in the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider's stock valued at $16,707,000 after acquiring an additional 70,263 shares during the period. UBS Group AG lifted its holdings in shares of Broadridge Financial Solutions by 8.2% in the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider's stock worth $38,361,000 after acquiring an additional 14,147 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Broadridge Financial Solutions by 108.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider's stock worth $17,192,000 after purchasing an additional 43,710 shares during the period. Finally, Tidal Investments LLC grew its holdings in Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider's stock valued at $3,627,000 after purchasing an additional 8,837 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 1.5 %

Broadridge Financial Solutions stock traded up $3.06 during midday trading on Monday, hitting $210.65. 454,896 shares of the company's stock were exchanged, compared to its average volume of 527,876. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $24.58 billion, a PE ratio of 35.95 and a beta of 1.05. The firm has a 50-day moving average of $208.74 and a two-hundred day moving average of $202.83.

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

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.88 dividend. 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 dividend on an annualized basis and a yield of 1.67%. Broadridge Financial Solutions's payout ratio is currently 54.61%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BR shares. 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 shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Royal Bank of Canada boosted 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. Finally, DA Davidson reaffirmed a "neutral" rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $213.33.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now owns 105,094 shares of the company's stock, valued at $21,823,820.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares in the company, valued at approximately $21,823,820.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company's stock, valued at $1,194,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,852 shares of company stock valued at $24,370,893. 1.60% of the stock is currently owned by 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.