Gulf International Bank UK Ltd Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Broadridge Financial Solutions by 24.3% this first quarter, dropping to 6,984 shares valued at approximately $1.69 million.
• Broadridge Financial Solutions announced an increase in its quarterly dividend to $0.975, reflecting an annualized yield of 1.5% and a payout ratio of 49.65%.
• Wall Street analysts have varied opinions on BR, with five rating it as a hold and three as a buy, while the average target price is set at $261.50.

Gulf International Bank UK Ltd cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 24.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,984 shares of the business services provider's stock after selling 2,245 shares during the period. Gulf International Bank UK Ltd's holdings in Broadridge Financial Solutions were worth $1,693,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BR. Continuum Advisory LLC increased its position 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 valued at $34,000 after acquiring an additional 46 shares during the last quarter. Norden Group LLC increased its position in shares of Broadridge Financial Solutions by 2.6% during the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider's stock valued at $449,000 after acquiring an additional 47 shares during the last quarter. Crew Capital Management Ltd. increased its position in shares of Broadridge Financial Solutions by 2.4% during the first quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider's stock valued at $490,000 after acquiring an additional 48 shares during the last quarter. BSW Wealth Partners increased its position in shares of Broadridge Financial Solutions by 3.2% during the first quarter. BSW Wealth Partners now owns 1,686 shares of the business services provider's stock valued at $409,000 after acquiring an additional 52 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Broadridge Financial Solutions by 3.8% during the first quarter. Gilbert & Cook Inc. now owns 1,432 shares of the business services provider's stock valued at $347,000 after acquiring an additional 53 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC lifted 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 report on Wednesday, August 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $261.50.

Broadridge Financial Solutions Trading Down 1.0%

Shares of BR stock opened at $259.14 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $30.35 billion, a P/E ratio of 36.55 and a beta of 0.94. The company has a 50 day moving average price of $245.10 and a 200 day moving average price of $239.62. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.95 and a fifty-two week high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm earned $3.50 earnings per share. The firm's quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a $0.975 dividend. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions's payout ratio is presently 49.65%.

Insider Activity

In related news, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the transaction, the director owned 7,242 shares of the company's stock, valued at $1,754,229.66. This represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,477 shares of company stock worth $5,093,784 over the last three months. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions 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.

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