King Luther Capital Management Corp Has $48.73 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

King Luther Capital Management Corp cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,186 shares of the business services provider’s stock after selling 1,091 shares during the period. King Luther Capital Management Corp’s holdings in Broadridge Financial Solutions were worth $48,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BR. ProShare Advisors LLC boosted its holdings in Broadridge Financial Solutions by 18.2% during the second quarter. ProShare Advisors LLC now owns 49,995 shares of the business services provider’s stock worth $8,281,000 after buying an additional 7,701 shares during the last quarter. Profund Advisors LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth approximately $232,000. Commonwealth Equity Services LLC raised its holdings in shares of Broadridge Financial Solutions by 4.7% during the second quarter. Commonwealth Equity Services LLC now owns 32,735 shares of the business services provider’s stock worth $5,422,000 after acquiring an additional 1,472 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Broadridge Financial Solutions by 187.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,797 shares of the business services provider’s stock valued at $7,853,000 after acquiring an additional 31,162 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in Broadridge Financial Solutions by 0.9% in the 2nd quarter. Great Lakes Advisors LLC now owns 30,819 shares of the business services provider’s stock worth $5,105,000 after purchasing an additional 270 shares during the period. 89.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BR has been the topic of a number of research reports. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Raymond James upped their price target on Broadridge Financial Solutions from $183.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Wolfe Research upgraded shares of Broadridge Financial Solutions from an “underperform” rating to a “peer perform” rating in a report on Tuesday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $190.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, September 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $178.00 to $192.00 and gave the company a “neutral” rating in a research note on Tuesday, August 22nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $173.67.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $183.71 on Tuesday. The firm has a market capitalization of $21.61 billion, a P/E ratio of 32.63 and a beta of 0.96. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average price is $179.11 and its two-hundred day moving average price is $170.70. Broadridge Financial Solutions, Inc. has a 1 year low of $131.83 and a 1 year high of $189.69.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a $0.80 dividend. The ex-dividend date is Thursday, December 14th. This represents a $3.20 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 56.84%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 8,297 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $185.40, for a total transaction of $1,538,263.80. Following the transaction, the chairman now owns 111,721 shares of the company’s stock, valued at $20,713,073.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 8,297 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $185.40, for a total value of $1,538,263.80. Following the transaction, the chairman now directly owns 111,721 shares in the company, valued at $20,713,073.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Keir D. Gumbs sold 2,688 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $186.41, for a total transaction of $501,070.08. Following the sale, the vice president now owns 14,023 shares of the company’s stock, valued at approximately $2,614,027.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,204 shares of company stock worth $8,745,671. Insiders own 1.60% of the company’s stock.

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.