Charles Schwab Investment Management Inc. Sells 1,209 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Charles Schwab Investment Management Inc. decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 661,413 shares of the business services provider’s stock after selling 1,209 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Broadridge Financial Solutions were worth $142,224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Intech Investment Management LLC lifted its stake in Broadridge Financial Solutions by 94.8% in the third quarter. Intech Investment Management LLC now owns 52,471 shares of the business services provider’s stock valued at $11,283,000 after purchasing an additional 25,539 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Broadridge Financial Solutions by 5.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,497 shares of the business services provider’s stock valued at $22,685,000 after acquiring an additional 5,818 shares during the period. First Horizon Advisors Inc. raised its position in shares of Broadridge Financial Solutions by 16.9% in the third quarter. First Horizon Advisors Inc. now owns 1,105 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 160 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $4,407,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth $51,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of analyst reports. UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday. They set a “neutral” rating and a $250.00 price objective on the stock. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $222.43.

Insider Activity

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,294 shares of company stock worth $16,944,095 in the last quarter. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $230.24 on Monday. The firm has a market capitalization of $26.91 billion, a PE ratio of 39.83 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $185.30 and a 12 month high of $230.30. The business’s 50-day moving average price is $217.48 and its 200-day moving average price is $209.27.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

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.