Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,749 shares of the business services provider’s stock after selling 522 shares during the period. Royal London Asset Management Ltd.’s holdings in Broadridge Financial Solutions were worth $10,392,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BR. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth $32,000. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Manchester Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 60 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $210.52 on Friday. The company has a market cap of $24.88 billion, a P/E ratio of 35.92 and a beta of 1.05. The company’s fifty day moving average is $209.52 and its two-hundred day moving average is $203.03. The company has a quick ratio of 1.08, a current 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.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business earned $3.21 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction that occurred on 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 owns 105,094 shares in the company, valued at approximately $21,823,820.04. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on BR shares. Royal Bank of Canada increased 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 note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective 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. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

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.