Bahl & Gaynor LLC Sells 150,020 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Bahl & Gaynor cut its Broadridge stake by 43.1%, selling 150,020 shares in the third quarter; it retained 197,821 shares valued at about $31.9 million.
• Broadridge reported quarterly EPS of $1.56, above the $1.37 consensus, and revenue of $1.67 billion, up 5% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $212.71; the company also declared a quarterly dividend of $1.09 per share.

Bahl & Gaynor LLC decreased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 43.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,821 shares of the business services provider's stock after selling 150,020 shares during the period. Bahl & Gaynor LLC owned about 0.18% of Broadridge Financial Solutions worth $31,869,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Moneco Advisors LLC increased its stake in Broadridge Financial Solutions by 7.8% in the 3rd quarter. Moneco Advisors LLC now owns 2,405 shares of the business services provider's stock valued at $387,000 after buying an additional 174 shares during the last quarter. Lido Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 126.4% during the 3rd quarter. Lido Advisors LLC now owns 13,444 shares of the business services provider's stock worth $2,167,000 after buying an additional 7,506 shares in the last quarter. Gen Wealth Partners Inc boosted its stake in shares of Broadridge Financial Solutions by 42.4% in the 3rd quarter. Gen Wealth Partners Inc now owns 6,937 shares of the business services provider's stock worth $1,118,000 after buying an additional 2,065 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of Broadridge Financial Solutions by 124.2% in the 3rd quarter. AlphaCore Capital LLC now owns 4,855 shares of the business services provider's stock worth $785,000 after buying an additional 2,690 shares during the last quarter. Finally, Running Oak Capital LLC boosted its stake in shares of Broadridge Financial Solutions by 4.5% in the 3rd quarter. Running Oak Capital LLC now owns 69,439 shares of the business services provider's stock worth $11,214,000 after buying an additional 3,013 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BR. DA Davidson reaffirmed a "buy" rating and set a $214.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Weiss Ratings upgraded Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Royal Bank Of Canada boosted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $191.00 to $201.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. Finally, Morgan Stanley raised their target price on Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.71.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas Carey sold 2,501 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the sale, the vice president directly owned 8,800 shares of the company's stock, valued at approximately $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.1%

Shares of BR stock opened at $192.79 on Thursday. The company's fifty day simple moving average is $172.76 and its two-hundred day simple moving average is $165.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 1.21. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $233.10. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 21.30 and a beta of 0.90.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.19. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 earnings per share. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.58 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 10th will be given a dividend of $1.09 per share. The ex-dividend date is Thursday, December 10th. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. Broadridge Financial Solutions's dividend payout ratio is currently 48.18%.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company's services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.

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