Broadridge Financial Solutions, Inc. $BR Stock: Bryn Mawr Trust Advisors LLC Reduces Holdings

Key Points

• Bryn Mawr Trust Advisors cut its Broadridge stake by 46.5% in the third quarter, selling 13,020 shares and retaining 14,981 shares valued at about $2.4 million.
• Broadridge reported quarterly EPS of $1.56, beating the $1.37 analyst consensus, while revenue rose 5% year over year to $1.67 billion.
• Analysts’ average rating was “Moderate Buy”, with an average price target of $212.71; institutional investors and hedge funds owned about 90% of the stock.

Bryn Mawr Trust Advisors LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 46.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,981 shares of the business services provider's stock after selling 13,020 shares during the quarter. Bryn Mawr Trust Advisors LLC's holdings in Broadridge Financial Solutions were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BR. BlackRock Inc. purchased a new stake in Broadridge Financial Solutions in the second quarter valued at $1,473,918,000. Jupiter Topco LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $261,852,000. Van ECK Associates Corp boosted its position in shares of Broadridge Financial Solutions by 11.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider's stock valued at $256,875,000 after purchasing an additional 190,301 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $197,921,000. Finally, Amundi grew its stake in Broadridge Financial Solutions by 67.5% during the 1st quarter. Amundi now owns 1,059,021 shares of the business services provider's stock worth $172,070,000 after buying an additional 426,587 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $192.15 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 1.24. The firm has a market cap of $21.73 billion, a price-to-earnings ratio of 21.23 and a beta of 0.90. The firm's fifty day moving average price is $172.30 and its 200 day moving average price is $165.77. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $233.10.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on BR shares. 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. JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 4th. UBS Group reaffirmed a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Royal Bank Of Canada raised their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. Finally, Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $212.71.

Insider Buying and Selling

In related news, VP Thomas Carey sold 2,501 shares of the firm's 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 completion of the sale, the vice president owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 insiders.

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.

Broadridge was established in 2007 as a spin-off from Automatic Data Processing (ADP).

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