Baird Financial Group Inc. Sells 17,452 Shares of Broadridge Financial Solutions, Inc. $BR

Baird Financial Group Inc. reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 457,291 shares of the business services provider’s stock after selling 17,452 shares during the quarter. Baird Financial Group Inc. owned approximately 0.39% of Broadridge Financial Solutions worth $111,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake 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 valued at $1,344,000 after purchasing an additional 1,987 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of Broadridge Financial Solutions by 87.9% in the second quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider’s stock valued at $7,308,000 after buying an additional 14,067 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of 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 valued at $52,900,000 after buying an additional 63,798 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Broadridge Financial Solutions by 62.5% during the second quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock worth $167,000 after acquiring an additional 265 shares in the last quarter. Finally, Triangle Securities Wealth Management bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $784,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 3,984 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the transaction, the president directly owned 44,829 shares of the company’s stock, valued at $10,131,354. This represents a 8.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $230.33 on Thursday. The business’s fifty day simple moving average is $228.80 and its 200 day simple moving average is $240.47. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a 12 month low of $212.33 and a 12 month high of $271.91. The firm has a market capitalization of $26.89 billion, a P/E ratio of 29.49 and a beta of 0.99.

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

Broadridge Financial Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BR. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson reaffirmed a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. UBS Group decreased their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley cut their price objective on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $259.83.

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.