Jensen Investment Management Inc. Has $342.44 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Jensen Investment Management Inc. decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,738,280 shares of the business services provider’s stock after selling 38,597 shares during the quarter. Broadridge Financial Solutions comprises approximately 2.8% of Jensen Investment Management Inc.’s holdings, making the stock its 15th largest position. Jensen Investment Management Inc. owned about 1.47% of Broadridge Financial Solutions worth $342,441,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $32,000. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Manchester Capital Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the period. Finally, New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the first quarter valued at about $34,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

NYSE BR traded down $0.33 during trading hours on Friday, reaching $210.52. 14,216 shares of the company’s stock were exchanged, compared to its average volume of 524,704. The firm has a fifty day moving average of $208.25 and a 200-day moving average of $202.59. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The stock has a market cap of $24.88 billion, a PE ratio of 35.98 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $3.21 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is 60.07%.

Insider Buying and Selling

In other news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold 94,914 shares of company stock worth $19,815,248 in the last quarter. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BR. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

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.