Broadridge Financial Solutions, Inc. $BR Stock Sold by Machina Capital S.A.S.

Machina Capital S.A.S. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,540 shares of the business services provider’s stock after selling 2,681 shares during the quarter. Machina Capital S.A.S.’s holdings in Broadridge Financial Solutions were worth $2,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $1,473,918,000. Jupiter Topco LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth approximately $261,852,000. Van ECK Associates Corp grew its position in Broadridge Financial Solutions by 11.3% during the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock valued at $256,875,000 after buying an additional 190,301 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $197,921,000. Finally, Amundi grew its position in Broadridge Financial Solutions by 67.5% during the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock valued at $172,070,000 after buying an additional 426,587 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.1%

BR stock opened at $192.79 on Thursday. The business’s 50-day moving average price is $172.76 and its 200-day moving average price is $165.62. The stock has a market cap of $21.81 billion, a P/E ratio of 21.30 and a beta of 0.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Broadridge Financial Solutions, Inc. has a twelve month low of $133.83 and a twelve month high of $233.10.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.19. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $1.51 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 10th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, December 10th. Broadridge Financial Solutions’s dividend payout ratio is presently 48.18%.

Insider Activity

In other news, VP Thomas Carey sold 2,501 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the sale, the vice president directly owned 8,800 shares of the company’s stock, valued at $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several recent research reports. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. DA Davidson reissued a “buy” rating and set a $214.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Royal Bank Of Canada upped their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Finally, UBS Group restated a “neutral” rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.71.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.