Mirabaud Asset Management Ltd Cuts Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Mirabaud Asset Management Ltd lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,849 shares of the business services provider’s stock after selling 344 shares during the quarter. Mirabaud Asset Management Ltd’s holdings in Broadridge Financial Solutions were worth $1,401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jones Financial Companies Lllp raised its stake in Broadridge Financial Solutions by 28,222.6% in the first quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock worth $230,254,000 after buying an additional 946,304 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 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 valued at $251,513,000 after acquiring an additional 883,125 shares during the period. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 438,381 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth $91,445,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth $53,467,000. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BR. 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 note on Friday, August 8th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC boosted their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday. Finally, DA Davidson restated a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $264.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 5,674 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the transaction, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the firm’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 owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 147,532 shares of company stock valued at $38,417,208 over the last quarter. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $221.83 on Friday. The company has a market cap of $25.89 billion, a P/E ratio of 28.40 and a beta of 0.96. The company has a quick ratio of 0.98, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average price is $236.59 and its 200-day moving average price is $241.77. Broadridge Financial Solutions, Inc. has a 52-week low of $212.33 and a 52-week high of $271.91.

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