Broadridge Financial Solutions, Inc. $BR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.4% in the second quarter, HoldingsChannel.com reports. The firm owned 831,738 shares of the business services provider’s stock after selling 38,313 shares during the quarter. Bank of New York Mellon Corp’s holdings in Broadridge Financial Solutions were worth $202,137,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Broadridge Financial Solutions by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock worth $3,572,199,000 after purchasing an additional 438,381 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Broadridge Financial Solutions by 2.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider’s stock worth $409,662,000 after purchasing an additional 39,846 shares during the period. Bahl & Gaynor Inc. raised its holdings in Broadridge Financial Solutions by 3.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock worth $283,278,000 after purchasing an additional 38,527 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Broadridge Financial Solutions by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock worth $261,071,000 after purchasing an additional 33,635 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Broadridge Financial Solutions by 577.9% in the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock worth $251,513,000 after purchasing an additional 883,125 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BR. DA Davidson reaffirmed a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Wall Street Zen lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Morgan Stanley cut their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC boosted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $264.83.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares of the company’s stock, valued at $42,986,992.02. The trade was a 33.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 147,532 shares of company stock valued at $38,417,208 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

BR stock opened at $218.54 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.98. The business has a 50 day simple moving average of $238.07 and a 200-day simple moving average of $241.94. The firm has a market capitalization of $25.51 billion, a PE ratio of 27.98 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1 year low of $212.33 and a 1 year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

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.