Penserra Capital Management LLC Sells 3,281 Shares of Broadridge Financial Solutions, Inc. $BR

Penserra Capital Management LLC decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 83.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 637 shares of the business services provider’s stock after selling 3,281 shares during the period. Penserra Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. Farther Finance Advisors LLC boosted its position in 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 during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Broadridge Financial Solutions by 40.8% in the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after buying an additional 63,798 shares during the last quarter. Triangle Securities Wealth Management bought a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $784,000. Achmea Investment Management B.V. raised its position in Broadridge Financial Solutions by 13.1% in the second quarter. Achmea Investment Management B.V. now owns 5,880 shares of the business services provider’s stock worth $1,429,000 after acquiring an additional 682 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of Broadridge Financial Solutions by 17.4% during the 2nd quarter. D.A. Davidson & CO. now owns 1,052 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 156 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 143,285 shares in the company, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $225.49 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $234.29 and its 200-day moving average price is $241.36. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91. The firm has a market capitalization of $26.32 billion, a PE ratio of 28.87 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results 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%. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

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

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.