Earnest Partners LLC Has $71.47 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Earnest Partners LLC lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 362,779 shares of the business services provider’s stock after selling 1,416 shares during the quarter. Earnest Partners LLC owned 0.31% of Broadridge Financial Solutions worth $71,467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BR. LifeSteps Financial Inc. acquired a new position 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 during the second quarter worth $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in 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 valued at $37,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction 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 transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 transaction, 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 SEC, which is available through the SEC website. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction 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 sale, the president now directly 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. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price 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. DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $213.33.

Broadridge Financial Solutions Stock Up 1.6 %

Shares of NYSE BR opened at $211.70 on Friday. The company’s 50 day moving average price is $210.67 and its 200-day moving average price is $203.54. 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, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The company has a market capitalization of $24.71 billion, a P/E ratio of 36.13 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating 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 business 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 posted $3.21 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 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.