Global Retirement Partners LLC Has $477,000 Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Global Retirement Partners LLC lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,217 shares of the business services provider’s stock after selling 513 shares during the period. Global Retirement Partners LLC’s holdings in Broadridge Financial Solutions were worth $477,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Family Firm Inc. acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of Broadridge Financial Solutions by 65.5% during the second quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock worth $39,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.1 %

BR opened at $218.84 on Tuesday. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $224.32. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market cap of $25.86 billion, a P/E ratio of 37.35 and a beta of 1.05. The company has a fifty day moving average price of $212.64 and a two-hundred day moving average price of $205.19.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. 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 previous year, the firm posted $3.21 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BR shares. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction dated 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 directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the business’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 sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. 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 134,386 shares of company stock valued at $28,112,824. Corporate insiders own 1.60% of the company’s stock.

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.