Pacer Advisors Inc. Sells 5,996 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Pacer Advisors Inc. cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,530 shares of the business services provider's stock after selling 5,996 shares during the period. Pacer Advisors Inc.'s holdings in Broadridge Financial Solutions were worth $2,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter worth approximately $29,000. Whipplewood Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 2,620.0% during the 1st 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. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $34,000. Continuum Advisory LLC lifted its position in shares of Broadridge Financial Solutions by 48.4% during the 1st 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. Finally, Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $36,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 1.2%

Shares of NYSE BR traded down $2.90 during mid-day trading on Friday, reaching $244.61. The company had a trading volume of 534,573 shares, compared to its average volume of 568,426. Broadridge Financial Solutions, Inc. has a 12-month low of $206.29 and a 12-month high of $257.65. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $28.73 billion, a price-to-earnings ratio of 36.78 and a beta of 0.94. The stock has a fifty day moving average of $241.25 and a two-hundred day moving average of $237.73.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $2.23 EPS. The business's revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Insider Activity

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider directly owned 1,070 shares of the company's stock, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and a consensus price target of $250.83.

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.