APG Asset Management N.V. Sells 20,213 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

APG Asset Management N.V. trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,992,945 shares of the business services provider's stock after selling 20,213 shares during the quarter. Broadridge Financial Solutions makes up about 1.3% of APG Asset Management N.V.'s portfolio, making the stock its 13th largest holding. APG Asset Management N.V. owned about 3.38% of Broadridge Financial Solutions worth $733,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of BR. LifeSteps Financial Inc. bought a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $32,000. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter worth $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions in the second quarter valued at $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions during the 1st quarter worth $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth about $37,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 1.6 %

Shares of Broadridge Financial Solutions stock traded up $3.33 during trading on Thursday, reaching $211.70. 757,545 shares of the company traded hands, compared to its average volume of 529,372. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $24.71 billion, a PE ratio of 35.56 and a beta of 1.05. The company has a 50 day moving average price of $210.53 and a 200-day moving average price of $203.48. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

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 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 company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The business's revenue was up 5.7% on a year-over-year basis. As a group, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.88 dividend. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.66%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 60.07%.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company's stock, valued at $13,938,374.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company's stock, valued at approximately $13,938,374.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company's stock, valued at $1,194,480. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last 90 days. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

BR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. 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. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada lifted 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 note on Wednesday, August 7th. 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.com, Broadridge Financial Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.33.

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.