1832 Asset Management L.P. Sells 8,580 Shares of Broadridge Financial Solutions, Inc. $BR

1832 Asset Management L.P. cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 52.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,854 shares of the business services provider’s stock after selling 8,580 shares during the period. 1832 Asset Management L.P.’s holdings in Broadridge Financial Solutions were worth $1,909,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. NewSquare Capital LLC raised its stake in shares of Broadridge Financial Solutions by 89.5% in the second quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock worth $26,000 after purchasing an additional 51 shares during the last quarter. ORG Partners LLC lifted its position in shares of Broadridge Financial Solutions by 360.0% during the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Broadridge Financial Solutions by 85.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. Bank of Jackson Hole Trust boosted its holdings in Broadridge Financial Solutions by 110.3% during the second quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock worth $30,000 after purchasing an additional 64 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BR shares. Morgan Stanley cut their target price on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson reissued a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 1st. Finally, UBS Group decreased their price objective 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. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $259.83.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,214 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the completion of the sale, the vice president owned 6,026 shares of the company’s stock, valued at $1,381,520.76. The trade was a 62.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 3,984 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $10,131,354. The trade was a 8.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.5%

Broadridge Financial Solutions stock opened at $232.00 on Friday. The stock has a market cap of $27.08 billion, a P/E ratio of 29.71 and a beta of 0.99. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average price is $228.64 and its 200-day moving average price is $240.31. Broadridge Financial Solutions, Inc. has a fifty-two week low of $212.33 and a fifty-two week high of $271.91.

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

Broadridge Financial Solutions Dividend Announcement

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

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.