Brown Advisory Inc. Reduces Stake in Broadridge Financial Solutions, Inc. (BR)

Brown Advisory Inc. reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 69.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 259,007 shares of the business services provider’s stock after selling 582,565 shares during the period. Brown Advisory Inc. owned approximately 0.22% of Broadridge Financial Solutions worth $34,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BR. BlackRock Inc. raised its holdings in Broadridge Financial Solutions by 1.3% in the 3rd quarter. BlackRock Inc. now owns 10,231,132 shares of the business services provider’s stock worth $1,349,998,000 after purchasing an additional 134,591 shares during the period. Janus Henderson Group PLC raised its holdings in Broadridge Financial Solutions by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,193,580 shares of the business services provider’s stock worth $817,243,000 after purchasing an additional 77,517 shares during the period. Morgan Stanley raised its holdings in Broadridge Financial Solutions by 112.5% in the 2nd quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock worth $297,411,000 after purchasing an additional 1,367,735 shares during the period. Wells Fargo & Company MN raised its holdings in Broadridge Financial Solutions by 32.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,950,097 shares of the business services provider’s stock worth $257,315,000 after purchasing an additional 472,524 shares during the period. Finally, Northern Trust Corp raised its holdings in Broadridge Financial Solutions by 11.4% in the 2nd quarter. Northern Trust Corp now owns 1,914,848 shares of the business services provider’s stock worth $220,399,000 after purchasing an additional 195,241 shares during the period. Hedge funds and other institutional investors own 84.97% of the company’s stock.

Shares of Broadridge Financial Solutions stock opened at $101.77 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $87.51 and a one year high of $138.24. The firm has a market capitalization of $11.96 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.19 and a beta of 0.95. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.93.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.11. The company had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $970.19 million. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. Broadridge Financial Solutions’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 4.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.94 dividend on an annualized basis and a yield of 1.91%. Broadridge Financial Solutions’s dividend payout ratio is presently 46.30%.

BR has been the topic of a number of recent research reports. SunTrust Banks initiated coverage on Broadridge Financial Solutions in a report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price on the stock. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday, August 10th. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $130.00 target price 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 stock. The stock has an average rating of “Hold” and an average target price of $120.00.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 47,192 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the sale, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at $51,945,630.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stuart R. Levine sold 8,902 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total value of $879,072.50. Following the sale, the director now directly owns 36,530 shares in the company, valued at $3,607,337.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 334,256 shares of company stock worth $43,588,422. Insiders own 2.30% of the company’s stock.

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Broadridge Financial Solutions Profile

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.

See Also: Balance Sheet

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

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