Blair William & Co. IL Sells 1,075 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Blair William & Co. IL has reduced its holdings in Broadridge Financial Solutions by 3.1%, now owning 33,808 shares worth $8,216,000 after selling 1,075 shares during the second quarter.
• Broadridge Financial Solutions recently increased its quarterly dividend to $0.975 per share, representing a 1.7% yield and a boost from the previous dividend of $0.88.
• Institutional investors own approximately 90.03% of Broadridge Financial Solutions stock, indicating strong institutional backing amid various fund modifications in their holdings.

Blair William & Co. IL reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,808 shares of the business services provider's stock after selling 1,075 shares during the quarter. Blair William & Co. IL's holdings in Broadridge Financial Solutions were worth $8,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BR. ORG Partners LLC grew its holdings 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 worth $28,000 after buying an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Continuum Advisory LLC lifted its position in shares of Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after buying an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock valued at $35,000 after buying an additional 117 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $36,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $232.81 on Friday. The firm has a market capitalization of $27.17 billion, a P/E ratio of 32.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $250.05 and a two-hundred day moving average price of $242.56. Broadridge Financial Solutions, Inc. has a 52 week low of $208.20 and a 52 week high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company had revenue of $1.05 billion during the quarter. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.01%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC raised their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $261.50.

Insiders Place Their Bets

In related news, President Christopher John Perry sold 7,036 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the transaction, the president owned 48,813 shares of the company's stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the transaction, the chief executive officer directly owned 143,285 shares in the company, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock worth $38,417,208 in the last quarter. 1.10% of the stock is currently owned by company insiders.

About Broadridge Financial Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.