Nixon Peabody Trust Co. Lowers Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nixon Peabody Trust Co. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,275 shares of the business services provider’s stock after selling 155 shares during the period. Nixon Peabody Trust Co.’s holdings in Broadridge Financial Solutions were worth $274,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. lifted its stake in Broadridge Financial Solutions by 4.1% during the 1st quarter. Sei Investments Co. now owns 19,637 shares of the business services provider’s stock worth $4,021,000 after acquiring an additional 779 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Broadridge Financial Solutions by 173.1% during the first quarter. Intech Investment Management LLC now owns 12,211 shares of the business services provider’s stock worth $2,502,000 after purchasing an additional 7,739 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after purchasing an additional 39,537 shares during the period. TIAA Trust National Association grew its holdings in shares of Broadridge Financial Solutions by 1.0% in the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after purchasing an additional 52 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Broadridge Financial Solutions by 43.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,175 shares of the business services provider’s stock valued at $2,699,000 after purchasing an additional 3,973 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley raised their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four 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, the stock currently has an average rating of “Hold” and an average price target of $217.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the transaction, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,534 shares of company stock valued at $24,748,962 in the last ninety days. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR traded up $0.90 during trading on Monday, hitting $228.68. 10,793 shares of the stock were exchanged, compared to its average volume of 518,176. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 1-year low of $182.57 and a 1-year high of $230.00. The stock has a fifty day moving average price of $215.95 and a two-hundred day moving average price of $208.23. The firm has a market capitalization of $26.73 billion, a P/E ratio of 39.57 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.