Dynamic Advisor Solutions LLC Cuts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Dynamic Advisor Solutions LLC cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,491 shares of the business services provider’s stock after selling 56 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Broadridge Financial Solutions were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sei Investments Co. lifted its stake in shares of Broadridge Financial Solutions by 22.7% in the 2nd quarter. Sei Investments Co. now owns 24,102 shares of the business services provider’s stock valued at $4,749,000 after acquiring an additional 4,465 shares during the last quarter. Public Sector Pension Investment Board increased its position in Broadridge Financial Solutions by 79.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,640 shares of the business services provider’s stock valued at $914,000 after purchasing an additional 2,060 shares during the period. AQR Capital Management LLC increased its position in shares of Broadridge Financial Solutions by 14.9% during the second quarter. AQR Capital Management LLC now owns 65,706 shares of the business services provider’s stock valued at $12,944,000 after buying an additional 8,527 shares during the period. MBB Public Markets I LLC raised its position in shares of Broadridge Financial Solutions by 516.8% in the 2nd quarter. MBB Public Markets I LLC now owns 8,209 shares of the business services provider’s stock worth $1,617,000 after acquiring an additional 6,878 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Broadridge Financial Solutions by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 71,573 shares of the business services provider’s stock valued at $14,100,000 after buying an additional 524 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $239.53 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 41.44 and a beta of 1.08. The business has a 50-day simple moving average of $230.40 and a two-hundred day simple moving average of $219.48. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $241.18.

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

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group started coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $226.71.

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.