MetLife Investment Management LLC Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

MetLife Investment Management LLC trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,218 shares of the business services provider’s stock after selling 1,240 shares during the period. MetLife Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $7,573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its stake in Broadridge Financial Solutions by 5.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares in the last quarter. Atria Investments Inc grew its holdings in Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after buying an additional 2,610 shares in the last quarter. BDF Gestion acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth $3,954,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Broadridge Financial Solutions by 22.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock worth $7,191,000 after acquiring an additional 6,690 shares during the period. Finally, Legacy Capital Wealth Partners LLC boosted its position in shares of Broadridge Financial Solutions by 82.7% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock valued at $1,528,000 after acquiring an additional 3,216 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,294 shares of company stock worth $16,944,095 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BR has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley lifted 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 report on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target on the stock. 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.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $222.43.

Broadridge Financial Solutions Trading Up 0.1 %

BR opened at $236.02 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.74. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $219.51 and a 200-day simple moving average of $210.20. The firm has a market cap of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

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.