Fifth Third Wealth Advisors LLC Decreases Position in Broadridge Financial Solutions, Inc. $BR

Fifth Third Wealth Advisors LLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,575 shares of the business services provider’s stock after selling 54 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Broadridge Financial Solutions were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BR. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $580,000. GAMMA Investing LLC lifted its holdings in shares of Broadridge Financial Solutions by 28.3% during the 1st quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock valued at $990,000 after purchasing an additional 901 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at $231,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Broadridge Financial Solutions by 42.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,933 shares of the business services provider’s stock valued at $7,015,000 after acquiring an additional 8,675 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Broadridge Financial Solutions by 12.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider’s stock valued at $159,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $232.87 on Tuesday. The business’s 50-day moving average is $249.73 and its two-hundred day moving average is $242.55. The company has a market capitalization of $27.18 billion, a P/E ratio of 32.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is currently 55.01%.

Insider Activity

In other news, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,532 shares of company stock worth $38,417,208. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Needham & Company LLC upped their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Three 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 currently has an average rating of “Hold” and an average price target of $261.50.

About Broadridge Financial Solutions

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.