Mcrae Capital Management Inc. Lowers Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mcrae Capital Management Inc. decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 62,199 shares of the business services provider’s stock after selling 375 shares during the period. Broadridge Financial Solutions accounts for approximately 2.6% of Mcrae Capital Management Inc.’s portfolio, making the stock its 18th largest holding. Mcrae Capital Management Inc. owned approximately 0.05% of Broadridge Financial Solutions worth $13,375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BR. Vanguard Group Inc. grew its holdings in Broadridge Financial Solutions by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after purchasing an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Broadridge Financial Solutions by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after buying an additional 28,180 shares during the period. Capital International Investors increased its holdings in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after buying an additional 7,970 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Broadridge Financial Solutions by 3.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after buying an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in Broadridge Financial Solutions by 0.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after acquiring an additional 6,634 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target 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. Four research 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $213.33.

Broadridge Financial Solutions Price Performance

BR stock opened at $214.03 on Friday. The firm has a market cap of $25.29 billion, a P/E ratio of 36.52 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $224.32. The stock has a 50-day simple moving average of $213.32 and a 200-day simple moving average of $205.64.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $3.21 earnings per share. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.64%. Broadridge Financial Solutions’s payout ratio is 60.07%.

Insiders Place Their Bets

In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.60% of the stock is owned by corporate insiders.

About Broadridge Financial Solutions

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.