Cadence Capital Management LLC Reduces Stake in Broadridge Financial Solutions, Inc. (BR)

Cadence Capital Management LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,274 shares of the business services provider’s stock after selling 439 shares during the period. Cadence Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at about $106,000. Squar Milner Financial Services LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter valued at about $109,000. Bartlett & Co. LLC raised its holdings in shares of Broadridge Financial Solutions by 375.0% during the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 750 shares during the period. Fort L.P. acquired a new position in shares of Broadridge Financial Solutions during the second quarter valued at about $120,000. Finally, Signaturefd LLC raised its holdings in shares of Broadridge Financial Solutions by 101.6% during the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 562 shares during the period. Hedge funds and other institutional investors own 84.55% of the company’s stock.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 210,188 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $132.14, for a total value of $27,774,242.32. Following the completion of the sale, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at approximately $51,182,579.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Daly sold 67,974 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the completion of the sale, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The disclosure for this sale can be found here. Insiders sold a total of 325,354 shares of company stock worth $42,709,350 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

BR opened at $107.21 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.28 and a debt-to-equity ratio of 0.93. Broadridge Financial Solutions, Inc. has a fifty-two week low of $86.80 and a fifty-two week high of $138.24. The stock has a market capitalization of $12.69 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The company had revenue of $973.00 million for the quarter, compared to analyst estimates of $970.19 million. During the same quarter in the prior year, the business posted $0.54 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.81%. Broadridge Financial Solutions’s dividend payout ratio is presently 46.30%.

BR has been the topic of several research reports. Wolfe Research initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating on the stock. Sandler O’Neill reiterated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Friday, August 10th. Finally, SunTrust Banks initiated coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $123.40.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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