Commerce Bank boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,619 shares of the business services provider’s stock after acquiring an additional 5,151 shares during the quarter. Commerce Bank owned about 0.06% of Broadridge Financial Solutions worth $6,507,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. CI Investments Inc. raised its holdings in Broadridge Financial Solutions by 7.2% during the 4th quarter. CI Investments Inc. now owns 1,250 shares of the business services provider’s stock worth $154,000 after buying an additional 84 shares during the period. Albion Financial Group UT raised its holdings in Broadridge Financial Solutions by 4.4% during the 4th quarter. Albion Financial Group UT now owns 2,033 shares of the business services provider’s stock worth $251,000 after buying an additional 85 shares during the period. Pacer Advisors Inc. raised its holdings in Broadridge Financial Solutions by 4.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,295 shares of the business services provider’s stock worth $252,000 after buying an additional 92 shares during the period. Argent Trust Co raised its holdings in Broadridge Financial Solutions by 4.9% during the 4th quarter. Argent Trust Co now owns 1,999 shares of the business services provider’s stock worth $247,000 after buying an additional 93 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Broadridge Financial Solutions by 0.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 17,266 shares of the business services provider’s stock worth $2,133,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 84.58% of the company’s stock.
In other news, Director Leslie A. Brun sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $105.92, for a total transaction of $476,640.00. Following the completion of the transaction, the director now directly owns 46,360 shares in the company, valued at $4,910,451.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert Schifellite sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $119.14, for a total value of $1,191,400.00. Following the transaction, the senior vice president now owns 52,445 shares of the company’s stock, valued at $6,248,297.30. The disclosure for this sale can be found here. Insiders have sold 121,583 shares of company stock valued at $14,294,469 in the last ninety days. Company insiders own 2.20% of the company’s stock.
A number of equities analysts have recently weighed in on BR shares. DA Davidson upgraded Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and upped their target price for the company from $134.00 to $138.00 in a report on Monday, February 3rd. Rosenblatt Securities upped their target price on Broadridge Financial Solutions from $101.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Friday, February 28th. Finally, BTIG Research reissued a “buy” rating and issued a $135.00 price target on shares of Broadridge Financial Solutions in a research note on Friday, May 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $132.67.
Shares of Broadridge Financial Solutions stock opened at $116.81 on Friday. The stock has a market capitalization of $13.52 billion, a P/E ratio of 33.18 and a beta of 0.90. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average price of $109.92 and a two-hundred day moving average price of $115.67. Broadridge Financial Solutions, Inc. has a 12-month low of $81.90 and a 12-month high of $136.99.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, May 8th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Broadridge Financial Solutions had a return on equity of 46.99% and a net margin of 9.50%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, June 11th. This represents a $2.16 dividend on an annualized basis and a yield of 1.85%. Broadridge Financial Solutions’s payout ratio is currently 46.35%.
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.
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