Pitcairn Co. Has $515,000 Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Pitcairn Co. reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,393 shares of the business services provider’s stock after selling 525 shares during the period. Pitcairn Co.’s holdings in Broadridge Financial Solutions were worth $515,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after acquiring an additional 8,837 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Broadridge Financial Solutions by 5.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares during the last quarter. BDF Gestion acquired a new position in Broadridge Financial Solutions during the second quarter worth $3,954,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Broadridge Financial Solutions by 22.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock valued at $7,191,000 after buying an additional 6,690 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on 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 directly owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. This represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,294 shares of company stock valued at $16,944,095 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.3 %

Broadridge Financial Solutions stock opened at $233.28 on Tuesday. The business has a 50 day moving average price of $217.92 and a two-hundred day moving average price of $209.55. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $185.41 and a 12 month high of $234.45. The stock has a market cap of $27.27 billion, a price-to-earnings ratio of 40.36 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, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BR shares. UBS Group began coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $222.43.

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.