MONECO Advisors LLC Sells 129 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

MONECO Advisors LLC cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,500 shares of the business services provider’s stock after selling 129 shares during the period. MONECO Advisors LLC’s holdings in Broadridge Financial Solutions were worth $296,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Broadridge Financial Solutions by 0.3% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Broadridge Financial Solutions by 0.7% in 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 purchasing an additional 28,180 shares during the period. Capital International Investors lifted its holdings in shares of Broadridge Financial Solutions by 0.3% in the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock valued at $627,278,000 after purchasing an additional 7,970 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Broadridge Financial Solutions by 3.0% during the first 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. lifted its stake in Broadridge Financial Solutions by 1.9% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,102,233 shares of the business services provider’s stock valued at $225,804,000 after acquiring an additional 20,023 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 0.3 %

Shares of Broadridge Financial Solutions stock opened at $209.32 on Tuesday. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of 35.72 and a beta of 1.04. The business has a fifty day simple moving average of $205.06 and a two-hundred day simple moving average of $201.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $3.21 EPS. Broadridge Financial Solutions’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on 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 transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on 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. Over the last quarter, insiders have sold 61,147 shares of company stock worth $12,698,243. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BR. Royal Bank of Canada lifted their price objective 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. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $213.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. 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 company currently has a consensus rating of “Hold” and a consensus price target of $213.17.

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.