Envestnet Asset Management Inc. Sells 5,782 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Asset Management Inc. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 657,562 shares of the business services provider's stock after selling 5,782 shares during the quarter. Envestnet Asset Management Inc. owned 0.56% of Broadridge Financial Solutions worth $129,540,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at about $32,000. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions during the first quarter worth about $34,000. Finally, Family Firm Inc. bought a new position in Broadridge Financial Solutions during the second quarter worth about $37,000. 90.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BR. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. 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 report on Tuesday, August 20th. Royal Bank of Canada raised their price target 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. Finally, DA Davidson reaffirmed a "neutral" rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of "Moderate Buy" and an average price target of $213.33.

Insider Activity

In other news, 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 value of $5,227,750.00. Following 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 filing with the SEC, which is available at the SEC website. In related news, 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 value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Christopher John Perry sold 31,539 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares of the company's stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company's stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded down $0.68 during trading hours on Tuesday, reaching $210.96. 373,531 shares of the stock were exchanged, compared to its average volume of 525,294. The company has a market cap of $24.62 billion, a P/E ratio of 36.18 and a beta of 1.05. 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 twelve month low of $166.73 and a twelve month high of $223.81. The stock has a 50 day moving average of $209.91 and a two-hundred day moving average of $203.19.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company posted $3.21 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal 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 paid a $0.88 dividend. 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 dividend yield of 1.67%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 54.61%.

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.