EFG Asset Management Americas Corp. Cuts Holdings in Broadridge Financial Solutions, Inc. $BR

EFG Asset Management Americas Corp. reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,005 shares of the business services provider’s stock after selling 990 shares during the period. EFG Asset Management Americas Corp.’s holdings in Broadridge Financial Solutions were worth $1,459,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BR. Ensign Peak Advisors Inc boosted its position in shares of Broadridge Financial Solutions by 2.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 46,741 shares of the business services provider’s stock valued at $11,359,000 after acquiring an additional 1,020 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Broadridge Financial Solutions by 3.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,457 shares of the business services provider’s stock worth $357,000 after buying an additional 50 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 6.0% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $258,000 after buying an additional 60 shares during the last quarter. United Advisor Group LLC raised its position in shares of Broadridge Financial Solutions by 3.3% during the 2nd quarter. United Advisor Group LLC now owns 3,008 shares of the business services provider’s stock valued at $731,000 after buying an additional 95 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Broadridge Financial Solutions by 800.5% in the 2nd quarter. Empowered Funds LLC now owns 35,633 shares of the business services provider’s stock valued at $8,660,000 after acquiring an additional 31,676 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.7%

Shares of BR opened at $226.43 on Thursday. The firm has a fifty day moving average price of $232.19 and a 200-day moving average price of $241.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $26.43 billion, a P/E ratio of 28.99 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91.

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

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is 49.94%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 3,984 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the transaction, the president directly owned 44,829 shares in the company, valued at $10,131,354. The trade was a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of several analyst reports. 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. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson reiterated a “neutral” rating and set a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. Finally, UBS Group dropped their price target on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $259.83.

Broadridge Financial Solutions 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.