Mutual of America Capital Management LLC Sells 137 Shares of Broadridge Financial Solutions, Inc. $BR

Mutual of America Capital Management LLC trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,473 shares of the business services provider’s stock after selling 137 shares during the period. Mutual of America Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $3,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. D.A. Davidson & CO. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth approximately $217,000. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the first quarter valued at approximately $29,000. Sequoia Financial Advisors LLC increased its stake in Broadridge Financial Solutions by 9.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 101 shares in the last quarter. Triangle Securities Wealth Management acquired a new stake in Broadridge Financial Solutions in the second quarter worth $784,000. Finally, Nordea Investment Management AB boosted its position in shares of Broadridge Financial Solutions by 40.8% during the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after purchasing an additional 63,798 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares in the company, valued at approximately $42,986,992.02. This represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the transaction, the president owned 48,813 shares of the company’s stock, valued at $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,532 shares of company stock valued at $38,417,208 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Needham & Company LLC boosted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $261.50.

Broadridge Financial Solutions Stock Down 0.4%

Broadridge Financial Solutions stock opened at $232.09 on Friday. The stock has a market capitalization of $27.09 billion, a PE ratio of 32.73 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a twelve month low of $208.20 and a twelve month high of $271.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $244.52 and a 200-day moving average of $242.18.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $1.05 billion during the quarter. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were issued a dividend of $0.975 per share. The ex-dividend date was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is currently 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.