Sentry Investment Management LLC Has $101,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sentry Investment Management LLC lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512 shares of the business services provider’s stock after selling 105 shares during the quarter. Sentry Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $101,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BR. Private Advisor Group LLC increased its holdings in Broadridge Financial Solutions by 5.3% in the fourth quarter. Private Advisor Group LLC now owns 4,326 shares of the business services provider’s stock valued at $890,000 after purchasing an additional 217 shares during the period. BNP Paribas Financial Markets grew its position in shares of Broadridge Financial Solutions by 31.2% in the 4th quarter. BNP Paribas Financial Markets now owns 62,481 shares of the business services provider’s stock valued at $12,855,000 after buying an additional 14,868 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Broadridge Financial Solutions by 30.7% in the fourth quarter. QRG Capital Management Inc. now owns 4,059 shares of the business services provider’s stock valued at $835,000 after buying an additional 954 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Broadridge Financial Solutions by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 880,395 shares of the business services provider’s stock worth $181,142,000 after acquiring an additional 33,101 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Broadridge Financial Solutions by 25.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,312 shares of the business services provider’s stock worth $1,093,000 after acquiring an additional 1,076 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, 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 transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction dated 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 approximately $41,963,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of 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. Over the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $210.52 on Friday. The firm has a market capitalization of $24.88 billion, a P/E ratio of 35.92 and a beta of 1.05. The firm’s 50-day moving average price is $209.52 and its 200-day moving average price is $203.03. 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, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results 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. The business had revenue of $1.94 billion for 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 company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is 60.07%.

Wall Street Analysts Forecast Growth

BR has been the subject of several analyst reports. DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $213.33.

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.