Geneva Capital Management LLC Reduces Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Geneva Capital Management LLC reduced its holdings in Broadridge Financial Solutions by 2.4%, now owning 94,275 shares worth approximately $22.86 million.
• Several hedge funds increased their stakes in Broadridge, with Price T Rowe Associates Inc. lifting its stake by 50% in the last quarter, now owning over 3.56 million shares.
• The company recently announced a quarterly dividend of $0.88, representing an annualized yield of 1.4%.

Geneva Capital Management LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,275 shares of the business services provider's stock after selling 2,329 shares during the period. Geneva Capital Management LLC owned approximately 0.08% of Broadridge Financial Solutions worth $22,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the 1st quarter worth approximately $29,000. Whipplewood Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after purchasing an additional 131 shares during the period. Minot DeBlois Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $34,000. Continuum Advisory LLC boosted its position in Broadridge Financial Solutions by 48.4% in the 1st 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 period. Finally, Gen Wealth Partners Inc purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $36,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Pamela L. Carter sold 4,829 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director owned 7,242 shares of the company's stock, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president directly owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,048 shares of company stock worth $4,101,083. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Trading Up 0.2%

Broadridge Financial Solutions stock traded up $0.48 during midday trading on Friday, hitting $266.96. 329,575 shares of the stock were exchanged, compared to its average volume of 584,058. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $271.91. The stock has a market capitalization of $31.27 billion, a price-to-earnings ratio of 37.65 and a beta of 0.94. The stock's 50-day simple moving average is $243.20 and its 200 day simple moving average is $238.72. The company has a current ratio of 0.98, a quick ratio of 1.32 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period last year, the business earned $3.50 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. Broadridge Financial Solutions's payout ratio is 49.65%.

Analyst Upgrades and Downgrades

A number of research firms have commented on BR. Morgan Stanley increased their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research note on Wednesday. UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday. Needham & Company LLC upped their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Company Profile

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.