OneDigital Investment Advisors LLC Cuts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

OneDigital Investment Advisors LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,010 shares of the business services provider’s stock after selling 284 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Broadridge Financial Solutions were worth $647,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BR. Assenagon Asset Management S.A. grew its position in Broadridge Financial Solutions by 3,197.8% during the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after acquiring an additional 198,169 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $274,650,000. Earnest Partners LLC grew its holdings in shares of Broadridge Financial Solutions by 25.9% during the 1st quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock valued at $74,609,000 after purchasing an additional 75,006 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Broadridge Financial Solutions by 97.2% in the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock worth $21,689,000 after purchasing an additional 52,171 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Down 1.0 %

Shares of Broadridge Financial Solutions stock opened at $224.84 on Wednesday. The company’s fifty day simple moving average is $216.50 and its two-hundred day simple moving average is $208.63. Broadridge Financial Solutions, Inc. has a 12-month low of $182.57 and a 12-month high of $230.00. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market cap of $26.28 billion, a P/E ratio of 38.90 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BR. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $217.83.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,033 shares of company stock worth $23,382,322. 1.30% of the stock is owned by corporate insiders.

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.