Broadridge Financial Solutions, Inc. $BR Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group reduced its Broadridge Financial Solutions stake by 2.1%, selling 8,767 shares and retaining 402,622 shares worth approximately $65.4 million. Institutional investors collectively own 90.03% of BR.
• Analyst sentiment remains positive but mixed: BR carries a “Moderate Buy” consensus rating with an average price target of $221.57, although several firms recently lowered their targets.
• Broadridge exceeded quarterly earnings and revenue expectations, reporting $2.72 in EPS and $1.95 billion in revenue, while revenue increased 7.8% year over year. The company also paid a quarterly dividend of $0.975 per share, representing a 2.5% yield.

Rathbones Group PLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,622 shares of the business services provider's stock after selling 8,767 shares during the period. Rathbones Group PLC owned 0.35% of Broadridge Financial Solutions worth $65,418,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BR. Strs Ohio grew its holdings in Broadridge Financial Solutions by 25.8% in the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider's stock valued at $7,927,000 after buying an additional 9,996 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter worth $4,211,000. UNIVEST FINANCIAL Corp purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter worth $8,227,000. New Age Alpha Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 51.6% during the 4th quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider's stock valued at $8,237,000 after acquiring an additional 12,569 shares during the last quarter. Finally, Cvfg LLC purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at about $2,463,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the transaction, the insider owned 1 shares of the company's stock, valued at approximately $155. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BR shares. DA Davidson cut their price objective on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Needham & Company LLC dropped their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price target on shares of Broadridge Financial Solutions in a report on Monday, June 22nd. Finally, UBS Group reduced their price target on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.57.

Broadridge Financial Solutions Stock Up 0.0%

Shares of BR opened at $154.02 on Monday. The firm has a market cap of $17.81 billion, a P/E ratio of 16.49 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $271.91. The company's 50-day moving average price is $146.80 and its 200 day moving average price is $164.45. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.97.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, April 30th. The business services provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.09. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted $2.44 earnings per share. Broadridge Financial Solutions's revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 41.76%.

Broadridge Financial Solutions Company 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.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source