Envestnet Portfolio Solutions Inc. Has $5.04 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 25,565 shares of the business services provider’s stock after selling 2,579 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $5,036,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BR. LifeSteps Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $32,000. Stuart Chaussee & Associates Inc. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Manchester Capital Management LLC boosted its stake in Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Broadridge Financial Solutions by 73.7% in the first quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock valued at $42,000 after buying an additional 87 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on BR shares. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $213.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $213.17.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,646 shares of company stock worth $1,334,230. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of BR traded down $0.64 on Thursday, reaching $209.01. 341,545 shares of the company’s stock were exchanged, compared to its average volume of 521,218. The business has a 50 day moving average price of $204.37 and a two-hundred day moving average price of $201.43. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The stock has a market capitalization of $24.70 billion, a P/E ratio of 35.67 and a beta of 1.04. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company posted $3.21 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.68%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

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.