Toronto Dominion Bank Buys 11,684 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Toronto Dominion Bank boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 60,381 shares of the business services provider’s stock after acquiring an additional 11,684 shares during the quarter. Toronto Dominion Bank’s holdings in Broadridge Financial Solutions were worth $12,984,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BR. Swedbank AB raised its holdings in Broadridge Financial Solutions by 1.0% during the second quarter. Swedbank AB now owns 24,420 shares of the business services provider’s stock worth $4,811,000 after buying an additional 252 shares during the last quarter. Triad Wealth Partners LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $44,000. Miracle Mile Advisors LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $220,000. Blue Trust Inc. increased its holdings in Broadridge Financial Solutions by 29.5% during the 2nd quarter. Blue Trust Inc. now owns 829 shares of the business services provider’s stock worth $170,000 after purchasing an additional 189 shares in the last quarter. Finally, Everpar Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 12.9% in the second quarter. Everpar Advisors LLC now owns 2,234 shares of the business services provider’s stock worth $440,000 after purchasing an additional 256 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 0.6 %

Broadridge Financial Solutions stock opened at $233.53 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $27.30 billion, a P/E ratio of 40.40 and a beta of 1.07. The firm has a 50 day moving average price of $224.43 and a 200-day moving average price of $212.75. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BR. DA Davidson upped their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $226.71.

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.