Oppenheimer Asset Management Inc. Sells 222 Shares of Broadridge Financial Solutions, Inc. $BR

Oppenheimer Asset Management Inc. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,073 shares of the business services provider’s stock after selling 222 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BR. ORG Partners LLC raised its stake in shares of Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after buying an additional 90 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Broadridge Financial Solutions by 85.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after buying an additional 57 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $36,000. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 84,571 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the sale, the chief executive officer directly owned 165,634 shares of the company’s stock, valued at approximately $42,986,992.02. This trade represents a 33.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 7,036 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 147,532 shares of company stock valued at $38,417,208. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $219.65 on Thursday. The stock has a market capitalization of $25.64 billion, a PE ratio of 30.98 and a beta of 0.95. The business has a 50 day simple moving average of $241.88 and a two-hundred day simple moving average of $242.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91.

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

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.975 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.8%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.01%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. DA Davidson reissued a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $265.67.

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.