Rathbones Group PLC Has $106.06 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Rathbones Group PLC reduced its holdings in Broadridge Financial Solutions by 0.5%, selling 2,054 shares to own a total of 437,438 shares worth approximately $106 million.
• Broadridge recently declared an increase in its quarterly dividend to $0.975 per share, representing a yield of 1.5% and a total annualized dividend of $3.90.
• Analysts maintain a consensus rating of "Hold" on Broadridge's shares, with a target price range between $259.00 and $305.00.

Rathbones Group PLC cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 437,438 shares of the business services provider's stock after selling 2,054 shares during the quarter. Rathbones Group PLC owned about 0.37% of Broadridge Financial Solutions worth $106,061,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BR. D.A. Davidson & CO. bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $217,000. CWA Asset Management Group LLC increased its position in shares of Broadridge Financial Solutions by 6.8% during the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock valued at $332,000 after purchasing an additional 87 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $29,000. Sequoia Financial Advisors LLC increased its position 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. Finally, Exchange Traded Concepts LLC increased its position in shares of Broadridge Financial Solutions by 12.3% during the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after purchasing an additional 72 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 165,634 shares in the company, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,299 shares of company stock valued at $40,196,503 over the last ninety days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded up $1.19 during trading hours on Friday, hitting $260.42. 803,783 shares of the company's stock were exchanged, compared to its average volume of 993,782. The stock's 50-day moving average is $245.40 and its 200-day moving average is $239.78. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. 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, Inc. has a 52 week low of $206.95 and a 52 week high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced 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 company had revenue of $2.07 billion for 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%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.50 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Analyst Upgrades and Downgrades

BR has been the topic of a number of analyst reports. Morgan Stanley upped their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Needham & Company LLC upped their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded 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 company a "neutral" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.