Montag & Caldwell LLC Cuts Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Montag & Caldwell LLC lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.1% in the second quarter, Holdings Channel.com reports. The firm owned 4,941 shares of the business services provider’s stock after selling 53 shares during the quarter. Montag & Caldwell LLC’s holdings in Broadridge Financial Solutions were worth $973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BR. Vanguard Group Inc. grew its stake in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after purchasing an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Broadridge Financial Solutions by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after buying an additional 28,180 shares in the last quarter. Capital International Investors lifted its position in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock valued at $627,278,000 after acquiring an additional 7,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Broadridge Financial Solutions by 3.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after acquiring an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Broadridge Financial Solutions by 0.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after acquiring an additional 6,634 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Insider Activity

In other news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction dated 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 directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Laura Matlin sold 673 shares of the business’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 transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 162 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares of the company’s stock, valued at $14,126,070. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.7 %

Shares of NYSE:BR opened at $211.95 on Monday. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 36.17 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock’s 50-day moving average price is $209.72 and its two-hundred day moving average price is $203.14.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 EPS. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS 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. Stockholders of record on Thursday, September 12th will be paid a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

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.