Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Commerce Bank

Commerce Bank lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 47,855 shares of the business services provider’s stock after selling 671 shares during the period. Commerce Bank’s holdings in Broadridge Financial Solutions were worth $9,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Confluence Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at $144,033,000. APG Asset Management US Inc. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $70,498,000. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd. increased its stake in shares of Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after acquiring an additional 147,293 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BR shares. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $206.67.

Broadridge Financial Solutions Stock Performance

BR stock traded down $0.48 during mid-day trading on Wednesday, reaching $199.51. 129,734 shares of the stock traded hands, compared to its average volume of 503,825. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52 week low of $164.45 and a 52 week high of $210.24. The business has a 50-day moving average of $198.77 and a two-hundred day moving average of $200.17. The firm has a market capitalization of $23.58 billion, a PE ratio of 34.03 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $2.05 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is presently 54.61%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Company 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.