Baird Financial Group Inc. Sells 17,452 Shares of Broadridge Financial Solutions, Inc. $BR

Baird Financial Group Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 457,291 shares of the business services provider’s stock after selling 17,452 shares during the quarter. Baird Financial Group Inc.’s holdings in Broadridge Financial Solutions were worth $111,135,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 56.1% in the second quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock worth $1,344,000 after purchasing an additional 1,987 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Broadridge Financial Solutions by 87.9% in the 2nd quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider’s stock worth $7,308,000 after buying an additional 14,067 shares during the period. Nordea Investment Management AB grew its stake in Broadridge Financial Solutions by 40.8% in the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock valued at $52,900,000 after buying an additional 63,798 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Broadridge Financial Solutions by 62.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock valued at $167,000 after acquiring an additional 265 shares during the period. Finally, Triangle Securities Wealth Management purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth $784,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the sale, the president directly owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. The trade was a 8.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $230.33 on Thursday. The stock has a market cap of $26.89 billion, a P/E ratio of 29.49 and a beta of 0.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $228.80 and its two-hundred day moving average price is $240.47. Broadridge Financial Solutions, Inc. has a twelve month low of $212.33 and a twelve month high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BR shares. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. UBS Group reduced their target price on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. DA Davidson reiterated a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Finally, Needham & Company LLC raised their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $259.83.

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.