Broadridge Financial Solutions, Inc. $BR Stake Lessened by Private Trust Co. NA

Private Trust Co. NA cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,556 shares of the business services provider’s stock after selling 53 shares during the period. Private Trust Co. NA’s holdings in Broadridge Financial Solutions were worth $378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock valued at $3,572,199,000 after purchasing an additional 438,381 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Broadridge Financial Solutions by 2.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider’s stock valued at $409,662,000 after purchasing an additional 39,846 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in Broadridge Financial Solutions by 3.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock valued at $283,278,000 after purchasing an additional 38,527 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Broadridge Financial Solutions by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock valued at $261,071,000 after purchasing an additional 33,635 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock valued at $251,513,000 after purchasing an additional 883,125 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Needham & Company LLC increased their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $261.50.

Broadridge Financial Solutions Stock Up 1.1%

Shares of NYSE:BR opened at $228.97 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $26.73 billion, a PE ratio of 32.30 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 52 week low of $208.20 and a 52 week high of $271.91. The firm has a 50 day simple moving average of $246.88 and a 200 day simple moving average of $242.19.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $1.05 billion during the quarter. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s payout ratio is currently 55.01%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares in the company, valued at $12,824,151.36. This represents a 12.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,532 shares of company stock valued at $38,417,208. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Profile

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.