King Luther Capital Management Corp Sells 6,151 Shares of Broadridge Financial Solutions (BR)

King Luther Capital Management Corp cut its stake in shares of Broadridge Financial Solutions (NYSE:BR) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,624 shares of the business services provider’s stock after selling 6,151 shares during the quarter. King Luther Capital Management Corp’s holdings in Broadridge Financial Solutions were worth $5,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ClariVest Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 61.5% during the 1st quarter. ClariVest Asset Management LLC now owns 16,800 shares of the business services provider’s stock worth $1,842,000 after buying an additional 6,400 shares during the period. Penserra Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 1,518.4% during the 1st quarter. Penserra Capital Management LLC now owns 70,207 shares of the business services provider’s stock worth $7,700,000 after buying an additional 65,869 shares during the period. Tyers Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 81.6% during the 1st quarter. Tyers Asset Management LLC now owns 19,052 shares of the business services provider’s stock worth $2,090,000 after buying an additional 8,558 shares during the period. Riverhead Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 81.5% during the 1st quarter. Riverhead Capital Management LLC now owns 21,608 shares of the business services provider’s stock worth $2,370,000 after buying an additional 9,700 shares during the period. Finally, Neuburgh Advisers LLC lifted its holdings in Broadridge Financial Solutions by 81.6% during the 1st quarter. Neuburgh Advisers LLC now owns 29,444 shares of the business services provider’s stock worth $3,230,000 after buying an additional 13,226 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Julie R. Taylor sold 1,197 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $114.73, for a total value of $137,331.81. Following the completion of the sale, the vice president now directly owns 2,762 shares of the company’s stock, valued at approximately $316,884.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stuart R. Levine sold 8,304 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $106.05, for a total value of $880,639.20. Following the completion of the sale, the director now directly owns 24,554 shares of the company’s stock, valued at $2,603,951.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,447 shares of company stock valued at $9,072,173. Corporate insiders own 2.60% of the company’s stock.



BR has been the subject of several research analyst reports. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Sandler O’Neill reissued a “hold” rating and issued a $101.00 price objective on shares of Broadridge Financial Solutions in a research report on Thursday, February 15th. Barclays lifted their price objective on Broadridge Financial Solutions from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Zacks Investment Research lowered Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Finally, DA Davidson lifted their price objective on Broadridge Financial Solutions from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 28th. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $100.25.

Broadridge Financial Solutions opened at $113.81 on Friday, Marketbeat.com reports. Broadridge Financial Solutions has a 1-year low of $114.97 and a 1-year high of $115.99. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $13.57 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 2.74 and a beta of 0.86.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, May 8th. The business services provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.21. Broadridge Financial Solutions had a return on equity of 45.33% and a net margin of 9.37%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.69 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. analysts expect that Broadridge Financial Solutions will post 4.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Friday, June 15th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.65%.

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.

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

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