Cynosure Group LLC Sells 9,569 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cynosure Group LLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 84.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,820 shares of the business services provider’s stock after selling 9,569 shares during the quarter. Cynosure Group LLC’s holdings in Broadridge Financial Solutions were worth $391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC raised its stake in Broadridge Financial Solutions by 4.7% in the 3rd quarter. Townsquare Capital LLC now owns 24,846 shares of the business services provider’s stock worth $5,343,000 after purchasing an additional 1,125 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Broadridge Financial Solutions by 97.7% in the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after acquiring an additional 98,275 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.0% in the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $142,000. Finally, Quantbot Technologies LP raised its holdings in shares of Broadridge Financial Solutions by 48.9% during the 3rd quarter. Quantbot Technologies LP now owns 9,806 shares of the business services provider’s stock worth $2,109,000 after buying an additional 3,219 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $235.80 on Thursday. The company has a market capitalization of $27.56 billion, a PE ratio of 40.80 and a beta of 1.05. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a twelve month low of $186.19 and a twelve month high of $237.74. The firm has a fifty day simple moving average of $218.43 and a 200 day simple moving average of $209.84.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Analyst Ratings Changes

Several analysts recently weighed in on BR shares. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group started coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $222.43.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares in the company, valued at approximately $21,823,820.04. This trade represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,294 shares of company stock worth $16,944,095. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company 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.