Northwestern Mutual Wealth Management Co. Reduces Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Northwestern Mutual Wealth Management Co. lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,638 shares of the business services provider’s stock after selling 1,397 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Broadridge Financial Solutions were worth $1,034,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. DT Investment Partners LLC lifted its holdings in shares of Broadridge Financial Solutions by 24.8% in the 1st quarter. DT Investment Partners LLC now owns 4,272 shares of the business services provider’s stock valued at $665,000 after buying an additional 850 shares during the period. Commerce Bank lifted its holdings in shares of Broadridge Financial Solutions by 3.4% in the 1st quarter. Commerce Bank now owns 264,897 shares of the business services provider’s stock valued at $41,247,000 after buying an additional 8,602 shares during the period. GW&K Investment Management LLC raised its holdings in Broadridge Financial Solutions by 0.9% in the 1st quarter. GW&K Investment Management LLC now owns 303,629 shares of the business services provider’s stock worth $47,278,000 after purchasing an additional 2,613 shares during the period. Swiss National Bank raised its holdings in Broadridge Financial Solutions by 14.3% in the 1st quarter. Swiss National Bank now owns 504,882 shares of the business services provider’s stock worth $78,615,000 after purchasing an additional 63,300 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Broadridge Financial Solutions by 11.6% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,447 shares of the business services provider’s stock worth $537,000 after purchasing an additional 357 shares during the period. Hedge funds and other institutional investors own 87.01% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $177.15 on Friday. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 38.93 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $132.40 and a twelve month high of $185.40. The company has a current ratio of 1.01, a quick ratio of 1.27 and a debt-to-equity ratio of 1.98. The stock has a 50-day moving average of $152.97 and a 200 day moving average of $149.56.

Broadridge Financial Solutions (NYSE:BRGet Rating) last announced its earnings results on Friday, August 12th. The business services provider reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.03. Broadridge Financial Solutions had a return on equity of 42.29% and a net margin of 9.44%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the firm earned $2.19 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.09 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.725 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.64. Broadridge Financial Solutions’s dividend payout ratio is presently 56.26%.

Analysts Set New Price Targets

Separately, Raymond James upped their price target on Broadridge Financial Solutions from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 16,703 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $179.16, for a total transaction of $2,992,509.48. Following the completion of the transaction, the vice president now owns 12,902 shares of the company’s stock, valued at $2,311,522.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Robert Schifellite sold 69,616 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $179.18, for a total value of $12,473,794.88. Following the completion of the sale, the senior vice president now directly owns 57,616 shares in the company, valued at $10,323,634.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 16,703 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $179.16, for a total value of $2,992,509.48. Following the completion of the sale, the vice president now owns 12,902 shares of the company’s stock, valued at $2,311,522.32. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

About Broadridge Financial Solutions

(Get Rating)

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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