Commerce Bank Sells 1,112 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Commerce Bank lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,111 shares of the business services provider’s stock after selling 1,112 shares during the quarter. Commerce Bank’s holdings in Broadridge Financial Solutions were worth $9,915,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $51,000. PNC Financial Services Group Inc. boosted its holdings in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,948 shares of the business services provider’s stock worth $10,740,000 after buying an additional 504 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $44,746,000. Meeder Asset Management Inc. increased its stake in shares of Broadridge Financial Solutions by 0.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 41,583 shares of the business services provider’s stock valued at $8,942,000 after acquiring an additional 176 shares in the last quarter. Finally, Caprock Group LLC increased its stake in shares of Broadridge Financial Solutions by 12.0% in the 3rd quarter. Caprock Group LLC now owns 4,113 shares of the business services provider’s stock valued at $888,000 after acquiring an additional 440 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In related news, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The trade was a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,033 shares of company stock worth $23,382,322 in the last 90 days. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $225.39 on Thursday. The firm has a market capitalization of $26.35 billion, a P/E ratio of 38.99 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a 52 week low of $183.60 and a 52 week high of $230.00. The stock has a 50 day moving average price of $216.78 and a two-hundred day moving average price of $208.75.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.09 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BR shares. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $217.83.

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.