Mount Lucas Management LP Sells 75 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mount Lucas Management LP lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% during the 2nd quarter, Holdings Channel reports. The fund owned 13,074 shares of the business services provider’s stock after selling 75 shares during the period. Mount Lucas Management LP’s holdings in Broadridge Financial Solutions were worth $2,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BR. Confluence Investment Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at $144,033,000. APG Asset Management US Inc. acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $70,498,000. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Broadridge Financial Solutions by 28.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after purchasing an additional 323,051 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. boosted its position in shares of Broadridge Financial Solutions by 16.9% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after purchasing an additional 147,293 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BR. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. 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 research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded down $3.26 during trading on Friday, reaching $207.59. 632,306 shares of the company’s stock traded hands, compared to its average volume of 528,298. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The firm has a market cap of $24.53 billion, a PE ratio of 35.42 and a beta of 1.05. The company has a 50-day simple moving average of $208.46 and a 200-day simple moving average of $202.71.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $3.21 EPS. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.70%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Insider Buying and Selling

In other news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,914 shares of company stock worth $19,815,248. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions 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.