Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Broadridge Financial Solutions by selling 30,592 shares, resulting in ownership of approximately 1.22% of the company, valued at $346.8 million.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, increased their holdings significantly, with overall 90.03% of the stock owned by institutional investors.
• Broadridge Financial Solutions announced an increase in its quarterly dividend from $0.88 to $0.975, reflecting a strong dividend yield of 1.5% and a payout ratio of 49.65%.

Invesco Ltd. lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,430,419 shares of the business services provider's stock after selling 30,592 shares during the period. Invesco Ltd. owned approximately 1.22% of Broadridge Financial Solutions worth $346,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth about $29,000. Whipplewood Advisors LLC lifted its stake in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at about $34,000. Continuum Advisory LLC lifted its stake 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 worth $34,000 after purchasing an additional 46 shares in the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the sale, the director directly owned 7,242 shares of the company's stock, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,299 shares of company stock worth $40,196,503. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 0.5%

Broadridge Financial Solutions stock traded up $1.19 during trading on Friday, hitting $260.42. The company had a trading volume of 803,783 shares, compared to its average volume of 993,782. Broadridge Financial Solutions, Inc. has a 1-year low of $206.95 and a 1-year high of $271.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The company's 50 day simple moving average is $245.40 and its 200-day simple moving average is $239.78. The stock has a market cap of $30.50 billion, a price-to-earnings ratio of 36.73 and a beta of 0.94.

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, beating the consensus estimate 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 firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $3.50 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

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

Wall Street Analyst Weigh In

BR has been the topic of a number of research reports. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC raised their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Morgan Stanley raised 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 report on Wednesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $261.50.

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.