Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Jensen Investment Management Inc.

Key Points

• Jensen Investment Management Inc. has decreased its stake in Broadridge Financial Solutions by 14.5%, now holding 1,386,609 shares, making it the fund's 10th largest position.
• Broadridge Financial Solutions reported a quarterly earnings per share of $3.55, surpassing analysts' estimates and achieving a revenue of $2.07 billion during the period.
• The company has recently increased its quarterly dividend to $0.975 per share, which reflects an annualized yield of 1.5% and a payout ratio of 52.93%.

Jensen Investment Management Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 14.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,386,609 shares of the business services provider's stock after selling 235,570 shares during the period. Broadridge Financial Solutions accounts for approximately 3.7% of Jensen Investment Management Inc.'s portfolio, making the stock its 10th biggest holding. Jensen Investment Management Inc. owned approximately 1.18% of Broadridge Financial Solutions worth $336,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the first quarter worth about $29,000. Whipplewood Advisors LLC lifted its holdings in Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after acquiring an additional 131 shares during the last quarter. Continuum Advisory LLC grew its position in Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares during the period. Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the first quarter worth $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity

In related news, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president owned 6,077 shares in the company, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider directly owned 21,167 shares in the company, valued at $5,070,554.85. This trade represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,048 shares of company stock worth $4,101,083 over the last three months. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BR. Needham & Company LLC boosted their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday. Five research 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 presently has a consensus rating of "Hold" and a consensus price target of $261.50.

Broadridge Financial Solutions Stock Down 0.1%

Shares of NYSE:BR traded down $0.29 during trading on Friday, hitting $266.19. The company's stock had a trading volume of 536,088 shares, compared to its average volume of 585,513. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $271.91. The business has a 50 day moving average price of $243.20 and a two-hundred day moving average price of $238.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.32 and a current ratio of 0.98. The company has a market capitalization of $31.18 billion, a PE ratio of 37.54 and a beta of 0.94.

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

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.