Bell Asset Management Ltd Reduces Stock Position in Broadridge Financial Solutions, Inc. $BR

Bell Asset Management Ltd trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,378 shares of the business services provider’s stock after selling 3,597 shares during the period. Bell Asset Management Ltd’s holdings in Broadridge Financial Solutions were worth $4,466,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Broadridge Financial Solutions by 56.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock worth $1,344,000 after buying an additional 1,987 shares during the last quarter. Shell Asset Management Co. raised its position in shares of Broadridge Financial Solutions by 87.9% during the 2nd quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider’s stock valued at $7,308,000 after acquiring an additional 14,067 shares in the last quarter. Nordea Investment Management AB lifted its stake in Broadridge Financial Solutions by 40.8% during the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after purchasing an additional 63,798 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Broadridge Financial Solutions by 62.5% in the second quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock worth $167,000 after purchasing an additional 265 shares during the period. Finally, Triangle Securities Wealth Management bought a new stake in Broadridge Financial Solutions during the second quarter valued at $784,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $227.73 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s 50 day moving average is $230.01 and its 200-day moving average is $240.84. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91. The stock has a market capitalization of $26.58 billion, a P/E ratio of 29.16 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is 49.94%.

Analyst Upgrades and Downgrades

BR has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. UBS Group reduced their price objective on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $259.83.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 3,984 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the transaction, the president owned 44,829 shares in the company, valued at $10,131,354. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate 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.