Tobam Sells 65 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Tobam decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,585 shares of the business services provider’s stock after selling 65 shares during the quarter. Tobam’s holdings in Broadridge Financial Solutions were worth $341,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BR. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth approximately $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions in the first quarter worth about $34,000. Family Firm Inc. bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at approximately $37,000. Finally, Anfield Capital Management LLC bought a new position in Broadridge Financial Solutions during the second quarter valued at $39,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of several analyst reports. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $216.79 on Friday. The business’s fifty day simple moving average is $211.93 and its 200-day simple moving average is $204.44. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a market cap of $25.62 billion, a PE ratio of 36.99 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.62%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

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.