Los Angeles Capital Management LLC Sells 9,121 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Los Angeles Capital Management LLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,148 shares of the business services provider's stock after selling 9,121 shares during the quarter. Los Angeles Capital Management LLC's holdings in Broadridge Financial Solutions were worth $5,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of Broadridge Financial Solutions by 3.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 8,992 shares of the business services provider's stock worth $2,180,000 after acquiring an additional 264 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Broadridge Financial Solutions by 26.1% in the first quarter. IFP Advisors Inc now owns 1,876 shares of the business services provider's stock worth $455,000 after acquiring an additional 388 shares during the last quarter. Financial Harvest LLC acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $813,000. Buckhead Capital Management LLC boosted its stake in Broadridge Financial Solutions by 2.3% during the first quarter. Buckhead Capital Management LLC now owns 8,688 shares of the business services provider's stock worth $2,106,000 after buying an additional 194 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in Broadridge Financial Solutions during the first quarter worth $689,000. Institutional investors own 90.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on BR shares. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $250.83.

Insider Activity at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director directly owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider directly owned 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Trading Up 1.1%

BR stock traded up $2.83 during midday trading on Friday, reaching $255.82. The stock had a trading volume of 217,805 shares, compared to its average volume of 538,821. The firm has a market cap of $30.05 billion, a price-to-earnings ratio of 38.44 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $206.29 and a twelve month high of $255.39. The business has a fifty day simple moving average of $240.09 and a two-hundred day simple moving average of $236.73. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. Broadridge Financial Solutions's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.23 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

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.