Logan Capital Management Inc. Reduces Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Logan Capital Management Inc. lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 27.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,866 shares of the business services provider’s stock after selling 3,282 shares during the quarter. Logan Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,155,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BR. Brighton Jones LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $580,000. Golden State Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at $29,000. Perigon Wealth Management LLC boosted its holdings in Broadridge Financial Solutions by 8.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,494 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 119 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Broadridge Financial Solutions by 9.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider’s stock valued at $279,000 after acquiring an additional 101 shares during the period. Finally, Diversified Trust Co purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at $219,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The transaction 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 business’s stock in a transaction 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 directly owned 165,634 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 147,532 shares of company stock valued at $38,417,208. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Wall Street Zen lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $265.67.

Broadridge Financial Solutions Trading Down 0.9%

Shares of NYSE BR opened at $229.86 on Wednesday. The firm has a market cap of $26.83 billion, a PE ratio of 32.42 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a twelve month low of $208.20 and a twelve month high of $271.91. The business has a fifty day simple moving average of $242.73 and a two-hundred day simple moving average of $242.56.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were given a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

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.