Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 3,111 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in Broadridge Financial Solutions by 1.2%, selling 3,111 shares and still holding approximately 0.22% of the company, valued at $62.81 million.
• Broadridge Financial Solutions recently increased its quarterly dividend from $0.88 to $0.975, resulting in an annualized yield of 1.7%.
• Analyst ratings for Broadridge Financial Solutions vary, with a current average rating of "Hold" and a consensus price target of $261.50, indicating potential for modest price appreciation.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,455 shares of the business services provider's stock after selling 3,111 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.22% of Broadridge Financial Solutions worth $62,812,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at $217,000. Golden State Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at $29,000. Sequoia Financial Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 9.6% during the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock valued at $279,000 after purchasing an additional 101 shares during the period. Triangle Securities Wealth Management purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $784,000. Finally, Nordea Investment Management AB boosted its stake in shares of Broadridge Financial Solutions by 40.8% during the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider's stock valued at $52,900,000 after purchasing an additional 63,798 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BR has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Needham & Company LLC upped their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their price objective 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, August 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $261.50.

Broadridge Financial Solutions Stock Up 0.3%

NYSE:BR opened at $232.97 on Thursday. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91. The company has a 50-day moving average of $245.06 and a 200 day moving average of $242.10. The firm has a market cap of $27.19 billion, a PE ratio of 32.86 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a $0.975 dividend. This is a boost 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 1.7%. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is presently 55.01%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 84,571 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. The trade was a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares of the company's stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock valued at $38,417,208 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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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