Renasant Bank Has $352,000 Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Renasant Bank grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 56.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,557 shares of the business services provider’s stock after purchasing an additional 559 shares during the quarter. Renasant Bank’s holdings in Broadridge Financial Solutions were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Broadridge Financial Solutions in the fourth quarter worth approximately $104,466,000. 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. Benjamin Edwards Inc. increased its stake in shares of Broadridge Financial Solutions by 2,302.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after acquiring an additional 140,886 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $25,773,000. Finally, BNP Paribas Financial Markets boosted its stake in Broadridge Financial Solutions by 97.7% during the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after acquiring an additional 98,275 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $225.33 on Friday. The firm has a market capitalization of $26.37 billion, a P/E ratio of 35.26 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The stock has a 50 day moving average price of $235.46 and a two-hundred day moving average price of $225.77. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the company earned $0.92 earnings per share. 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 declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

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.