KBC Group NV Decreases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

KBC Group NV lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,131 shares of the business services provider’s stock after selling 1,771 shares during the quarter. KBC Group NV’s holdings in Broadridge Financial Solutions were worth $5,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BR. NBC Securities Inc. increased its position in shares of Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after purchasing an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Broadridge Financial Solutions by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after buying an additional 50 shares during the last quarter. Garrison Asset Management LLC raised its stake in Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after buying an additional 50 shares in the last quarter. TIAA Trust National Association lifted its holdings in Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after buying an additional 52 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Broadridge Financial Solutions by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after acquiring an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BR shares. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $227.78 on Monday. The company’s 50-day moving average price is $215.95 and its 200 day moving average price is $208.23. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 52 week low of $180.31 and a 52 week high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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 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%.

Insiders Place Their Bets

In other news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now owns 206,349 shares of the company’s stock, valued at $43,190,909.19. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,534 shares of company stock worth $24,748,962 in the last quarter. 1.30% of the stock is owned by corporate 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.