Jupiter Asset Management Ltd. decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 164,365 shares of the business services provider’s stock after selling 22,563 shares during the period. Jupiter Asset Management Ltd.’s holdings in Broadridge Financial Solutions were worth $21,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $106,000. Squar Milner Financial Services LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $109,000. Bartlett & Co. LLC increased its stake in shares of Broadridge Financial Solutions by 375.0% in the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 750 shares during the period. Fort L.P. acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $120,000. Finally, Signaturefd LLC boosted its holdings in shares of Broadridge Financial Solutions by 101.6% in the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 84.97% of the company’s stock.

BR has been the subject of several recent analyst reports. SunTrust Banks initiated coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday, August 10th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $120.00.

In related news, CEO Richard J. Daly sold 67,974 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the completion of the sale, the chief executive officer now directly owns 233,673 shares in the company, valued at $29,585,338.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Daly sold 210,188 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the sale, the chief executive officer now owns 387,336 shares of the company’s stock, valued at $51,182,579.04. The disclosure for this sale can be found here. Insiders sold 325,354 shares of company stock valued at $42,709,350 over the last quarter. Insiders own 2.30% of the company’s stock.

Broadridge Financial Solutions stock opened at $104.72 on Monday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $12.23 billion, a PE ratio of 24.99, a P/E/G ratio of 2.24 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 12-month low of $87.51 and a 12-month high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.11. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $970.19 million. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Thursday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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