Broadridge Financial Solutions, Inc. $BR Shares Sold by Cynosure Group LLC

Cynosure Group LLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 51.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,252 shares of the business services provider’s stock after selling 5,601 shares during the quarter. Cynosure Group LLC’s holdings in Broadridge Financial Solutions were worth $1,251,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BR. Vanguard Group Inc. lifted its stake in shares of Broadridge Financial Solutions by 2.0% in the second quarter. Vanguard Group Inc. now owns 15,031,420 shares of the business services provider’s stock worth $3,653,086,000 after buying an additional 298,273 shares in the last quarter. State Street Corp lifted its stake in Broadridge Financial Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 5,642,154 shares of the business services provider’s stock worth $1,376,006,000 after purchasing an additional 35,061 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider’s stock worth $797,031,000 after purchasing an additional 136,386 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Broadridge Financial Solutions by 3.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,751,266 shares of the business services provider’s stock valued at $425,610,000 after purchasing an additional 61,659 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Broadridge Financial Solutions by 2.5% in the second quarter. Invesco Ltd. now owns 1,466,774 shares of the business services provider’s stock valued at $356,470,000 after purchasing an additional 36,355 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.2%

Shares of NYSE:BR opened at $220.52 on Monday. The company has a market capitalization of $25.74 billion, a price-to-earnings ratio of 28.24 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91. The business has a 50-day moving average price of $226.01 and a 200 day moving average price of $238.37. 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 (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The company had revenue of $1.05 billion for the quarter. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the transaction, the president directly owned 44,829 shares in the company, valued at $10,131,354. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 10,214 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total value of $2,341,661.64. Following the completion of the sale, the vice president directly 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 SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 29th. UBS Group reduced their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. DA Davidson reissued a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Morgan Stanley decreased their target price 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 research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $259.83.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.