Copeland Capital Management LLC Cuts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Copeland Capital Management LLC lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 41.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,725 shares of the business services provider's stock after selling 65,946 shares during the quarter. Copeland Capital Management LLC owned about 0.08% of Broadridge Financial Solutions worth $22,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BR. Nicolet Advisory Services LLC grew its holdings in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after purchasing an additional 46 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Advisors Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock worth $326,000 after purchasing an additional 49 shares in the last quarter. TCTC Holdings LLC grew its holdings in shares of Broadridge Financial Solutions by 0.9% during the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock worth $1,352,000 after purchasing an additional 52 shares in the last quarter. Finally, Mindset Wealth Management LLC grew its holdings in shares of Broadridge Financial Solutions by 2.8% during the fourth quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider's stock worth $446,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the sale, the director now directly owns 30,892 shares of the company's stock, valued at $7,509,227.36. This represents a 10.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president now directly owns 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock worth $4,352,298 in the last three months. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

BR has been the subject of several recent analyst reports. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC initiated 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. Finally, 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Price Performance

BR traded up $0.42 during midday trading on Friday, hitting $239.59. The stock had a trading volume of 527,705 shares, compared to its average volume of 523,819. The company has a market cap of $28.14 billion, a P/E ratio of 36.03 and a beta of 0.96. The business has a fifty day moving average of $238.76 and a 200 day moving average of $235.33. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. Broadridge Financial Solutions, Inc. has a 1 year low of $195.64 and a 1 year high of $247.01.

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

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio is currently 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.