Motley Fool Asset Management LLC Lowers Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Motley Fool Asset Management LLC reduced its stake in Broadridge Financial Solutions by 2.4%, now holding 39,432 shares valued at approximately $9.56 million.
• Broadridge Financial Solutions recently declared a quarterly dividend of $0.975, which represents a boost from the previous dividend of $0.88.
• Wall Street analysts have issued mixed ratings for Broadridge, with the consensus rating at "Hold" and a price target of $261.50.

Motley Fool Asset Management LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,432 shares of the business services provider's stock after selling 963 shares during the period. Motley Fool Asset Management LLC's holdings in Broadridge Financial Solutions were worth $9,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $580,000. Wellington Management Group LLP increased its stake in Broadridge Financial Solutions by 28.4% during the fourth quarter. Wellington Management Group LLP now owns 4,636 shares of the business services provider's stock worth $1,048,000 after acquiring an additional 1,026 shares during the last quarter. Cerity Partners LLC increased its stake in Broadridge Financial Solutions by 7.0% during the fourth quarter. Cerity Partners LLC now owns 23,458 shares of the business services provider's stock worth $5,195,000 after acquiring an additional 1,544 shares during the last quarter. Bessemer Group Inc. increased its stake in Broadridge Financial Solutions by 2.4% during the fourth quarter. Bessemer Group Inc. now owns 7,322 shares of the business services provider's stock worth $1,656,000 after acquiring an additional 172 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Broadridge Financial Solutions by 6.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 32,637 shares of the business services provider's stock worth $7,377,000 after acquiring an additional 2,080 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director directly owned 30,892 shares of the company's stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm'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 transaction of $1,211,164.80. Following the sale, the insider owned 21,167 shares of the company's stock, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,048 shares of company stock valued at $4,101,083. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $266.19 on Monday. The stock's fifty day moving average price is $243.67 and its 200 day moving average price is $238.99. The company has a market cap of $31.18 billion, a price-to-earnings ratio of 37.54 and a beta of 0.94. 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, Inc. has a 1 year low of $206.29 and a 1 year high of $271.91.

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

Broadridge Financial Solutions Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is 49.65%.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of analyst reports. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC boosted their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $261.50.

Broadridge Financial Solutions Company 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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