Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 268,915 shares of the business services provider's stock after selling 11,424 shares during the period. King Luther Capital Management Corp owned about 0.23% of Broadridge Financial Solutions worth $52,976,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at $34,000. Finally, Family Firm Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 transaction of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now owns 50,237 shares of the company's stock, valued at approximately $10,721,078.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 673 shares of the stock in a transaction 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 transaction, the vice president now directly owns 5,530 shares of the company's stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BR shares. DA Davidson reiterated a "neutral" rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Down 0.4 %

Shares of BR stock traded down $0.77 during trading hours on Friday, hitting $208.22. 1,162,968 shares of the company were exchanged, compared to its average volume of 531,024. The stock has a market capitalization of $24.61 billion, a price-to-earnings ratio of 35.53 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The business's 50-day simple moving average is $210.40 and its two-hundred day simple moving average is $203.32. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results 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. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company posted $3.21 EPS. The business's revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict 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. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 60.07%.

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.