The Manufacturers Life Insurance Company Has $15.22 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,759 shares of the business services provider’s stock after selling 814 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Broadridge Financial Solutions were worth $15,215,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. NBC Securities Inc. boosted its position in shares of Broadridge Financial Solutions by 0.8% during the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after buying an additional 45 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Broadridge Financial Solutions by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after acquiring an additional 50 shares during the last quarter. Garrison Asset Management LLC grew its stake in shares of Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after acquiring an additional 50 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Broadridge Financial Solutions by 2.5% in the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 52 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its position in shares of Broadridge Financial Solutions by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 10,804 shares of the business services provider’s stock worth $2,128,000 after purchasing an additional 54 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR opened at $236.02 on Monday. 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 $188.30 and a 12-month high of $237.74. The business has a 50 day moving average of $220.06 and a 200-day moving average of $210.54. The stock has a market cap of $27.59 billion, a price-to-earnings ratio of 40.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions 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 sale, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the company’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 transaction, the chairman now owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,294 shares of company stock worth $16,944,095 over the last three months. Insiders own 1.30% 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.