Westpac Banking Corp Sells 9,644 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Westpac Banking Corp reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 98.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172 shares of the business services provider’s stock after selling 9,644 shares during the quarter. Westpac Banking Corp’s holdings in Broadridge Financial Solutions were worth $28,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. US Bancorp DE boosted its position in shares of Broadridge Financial Solutions by 5.3% during the second quarter. US Bancorp DE now owns 49,686 shares of the business services provider’s stock valued at $8,229,000 after purchasing an additional 2,515 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 3.9% during the second quarter. Cetera Advisors LLC now owns 2,832 shares of the business services provider’s stock valued at $469,000 after purchasing an additional 107 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Broadridge Financial Solutions by 3.6% during the second quarter. Cetera Advisor Networks LLC now owns 10,672 shares of the business services provider’s stock valued at $1,768,000 after purchasing an additional 372 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Broadridge Financial Solutions by 9.9% during the second quarter. Cetera Investment Advisers now owns 7,380 shares of the business services provider’s stock valued at $1,222,000 after purchasing an additional 662 shares in the last quarter. Finally, Souders Financial Advisors bought a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $230,000. 89.36% of the stock is currently owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 20,614 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $176.94, for a total transaction of $3,647,441.16. Following the completion of the sale, the president now owns 56,738 shares in the company, valued at $10,039,221.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, VP Keir D. Gumbs sold 2,688 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $186.41, for a total transaction of $501,070.08. Following the completion of the sale, the vice president now owns 14,023 shares of the company’s stock, valued at $2,614,027.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 20,614 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $176.94, for a total value of $3,647,441.16. Following the sale, the president now directly owns 56,738 shares of the company’s stock, valued at approximately $10,039,221.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,204 shares of company stock worth $8,745,671. 1.60% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Up 0.6 %

BR stock opened at $183.71 on Tuesday. Broadridge Financial Solutions, Inc. has a 1-year low of $131.83 and a 1-year high of $189.69. The business has a fifty day moving average price of $179.11 and a 200-day moving average price of $170.70. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $21.61 billion, a P/E ratio of 32.63 and a beta of 0.96.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 56.84%.

Wall Street Analyst Weigh In

BR has been the topic of several research reports. DA Davidson lifted their price target on Broadridge Financial Solutions from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Raymond James boosted their target price on Broadridge Financial Solutions from $183.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, September 28th. Finally, JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $178.00 to $192.00 and gave the stock a “neutral” rating in a report on Tuesday, August 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $173.67.

Get Our Latest Stock Analysis on BR

Broadridge Financial Solutions Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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