Pacer Advisors Inc. Cuts Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Pacer Advisors Inc. cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 42.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,707 shares of the business services provider’s stock after selling 1,242 shares during the period. Pacer Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Broadridge Financial Solutions by 1,454.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,065,835 shares of the business services provider’s stock valued at $153,821,000 after buying an additional 997,275 shares during the period. TD Asset Management Inc. grew its stake in shares of Broadridge Financial Solutions by 470.9% in the third quarter. TD Asset Management Inc. now owns 784,831 shares of the business services provider’s stock worth $115,292,000 after purchasing an additional 647,363 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Broadridge Financial Solutions by 86.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock worth $186,122,000 after purchasing an additional 554,807 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in shares of Broadridge Financial Solutions by 19.4% in the third quarter. Bahl & Gaynor Inc. now owns 1,035,250 shares of the business services provider’s stock worth $149,408,000 after purchasing an additional 168,251 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Broadridge Financial Solutions in the third quarter worth about $20,277,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Richard John Stingi sold 750 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the completion of the sale, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $652,444.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Robert Schifellite sold 15,695 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $152.59, for a total transaction of $2,394,900.05. Following the completion of the sale, the senior vice president now owns 50,314 shares of the company’s stock, valued at approximately $7,677,413.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Richard John Stingi sold 750 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total transaction of $116,452.50. Following the sale, the vice president now directly owns 4,202 shares of the company’s stock, valued at approximately $652,444.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,870 shares of company stock valued at $2,712,363. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $152.87 on Friday. The company has a market capitalization of $18.04 billion, a P/E ratio of 32.80 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 2.04. The firm has a 50 day moving average of $142.61 and a 200 day moving average of $142.81. Broadridge Financial Solutions, Inc. has a twelve month low of $131.35 and a twelve month high of $183.33.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.04. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 6.92 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th were given a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Tuesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 62.23%.

Analyst Ratings Changes

BR has been the topic of several recent analyst reports. Royal Bank of Canada initiated coverage on Broadridge Financial Solutions in a research note on Monday, April 24th. They issued an “outperform” rating and a $169.00 target price on the stock. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. StockNews.com initiated coverage on shares of Broadridge Financial Solutions in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, TheStreet upgraded shares of Broadridge Financial Solutions from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average price target of $161.40.

About Broadridge Financial Solutions

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Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.