Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% in the third quarter, HoldingsChannel.com reports. The fund owned 3,935 shares of the business services provider’s stock after selling 105 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Broadridge Financial Solutions were worth $846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Broadridge Financial Solutions by 99.6% in the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after purchasing an additional 8,837 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after buying an additional 2,685 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after buying an additional 2,610 shares during the period. BDF Gestion acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $3,954,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Broadridge Financial Solutions by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after acquiring an additional 28,180 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley upped their price target on shares of 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. Finally, JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $227.08 on Tuesday. The firm has a fifty day moving average of $216.28 and a 200-day moving average of $208.45. Broadridge Financial Solutions, Inc. has a 52-week low of $182.57 and a 52-week high of $230.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $26.54 billion, a P/E ratio of 39.29 and a beta of 1.05.

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

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Insider Activity

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 17.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,534 shares of company stock worth $24,748,962. 1.30% of the stock is currently owned by company insiders.

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.