Fayez Sarofim & Co Sells 3,517 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Fayez Sarofim & Co reduced its stake in Broadridge Financial Solutions by 0.4%, selling 3,517 shares and owning a total of 891,590 shares valued at approximately $216.17 million after the sale.
• Insider trading activity has been notable, with the director Pamela L. Carter selling 4,829 shares and Douglas Richard Deschutter selling 5,056 shares, reflecting significant decreases in their positions.
• Broadridge Financial Solutions announced a quarterly dividend increase from $0.88 to $0.975 per share, set to be paid on October 2nd, indicating a commitment to returning value to shareholders.

Fayez Sarofim & Co decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 891,590 shares of the business services provider's stock after selling 3,517 shares during the quarter. Fayez Sarofim & Co owned 0.76% of Broadridge Financial Solutions worth $216,175,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Broadridge Financial Solutions by 2.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock worth $409,662,000 after buying an additional 39,846 shares in the last quarter. CenterBook Partners LP purchased a new position in Broadridge Financial Solutions in the first quarter worth $387,000. Deutsche Bank AG increased its stake in Broadridge Financial Solutions by 4.1% in the first quarter. Deutsche Bank AG now owns 485,510 shares of the business services provider's stock valued at $117,717,000 after acquiring an additional 19,222 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Broadridge Financial Solutions by 14.5% in the first quarter. Chicago Partners Investment Group LLC now owns 1,305 shares of the business services provider's stock valued at $308,000 after acquiring an additional 165 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Broadridge Financial Solutions by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 694,631 shares of the business services provider's stock valued at $168,420,000 after purchasing an additional 9,842 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the sale, the insider owned 21,167 shares in the company, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the sale, the director directly owned 7,242 shares in the company, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,048 shares of company stock valued at $4,101,083 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BR shares. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC upped their price objective 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. Five research 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 an average rating of "Hold" and a consensus target price of $258.17.

Broadridge Financial Solutions Trading Up 0.5%

NYSE:BR opened at $266.63 on Thursday. The company has a 50-day moving average price of $242.67 and a 200-day moving average price of $238.48. The stock has a market cap of $31.32 billion, a price-to-earnings ratio of 37.61 and a beta of 0.94. 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, Inc. has a 12 month low of $206.29 and a 12 month high of $269.14.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.975 per share. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.01%.

About Broadridge Financial Solutions

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.

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