Simmons Bank Cuts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Simmons Bank decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,494 shares of the business services provider’s stock after selling 163 shares during the period. Simmons Bank’s holdings in Broadridge Financial Solutions were worth $536,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Broadridge Financial Solutions by 32.4% during the first quarter. Empowered Funds LLC now owns 1,922 shares of the business services provider’s stock worth $394,000 after acquiring an additional 470 shares during the period. Sei Investments Co. boosted its holdings in shares of Broadridge Financial Solutions by 4.1% in the 1st quarter. Sei Investments Co. now owns 19,637 shares of the business services provider’s stock worth $4,021,000 after buying an additional 779 shares during the last quarter. QRG Capital Management Inc. grew its position in Broadridge Financial Solutions by 72.7% during the first quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock valued at $1,436,000 after buying an additional 2,950 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Broadridge Financial Solutions by 108.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after buying an additional 43,710 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Broadridge Financial Solutions by 173.1% in the first quarter. Intech Investment Management LLC now owns 12,211 shares of the business services provider’s stock worth $2,502,000 after acquiring an additional 7,739 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.9 %

NYSE:BR opened at $229.01 on Thursday. Broadridge Financial Solutions, Inc. has a 1 year low of $179.79 and a 1 year high of $230.00. The stock’s fifty day moving average price is $215.21 and its two-hundred day moving average price is $207.66. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $26.77 billion, a P/E ratio of 39.62 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $217.83.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,996 shares of company stock worth $30,073,732. 1.30% of the stock is owned by company insiders.

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.