Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by FineMark National Bank & Trust

FineMark National Bank & Trust lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,850 shares of the business services provider’s stock after purchasing an additional 1,274 shares during the period. FineMark National Bank & Trust’s holdings in Broadridge Financial Solutions were worth $11,002,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. LifeSteps Financial Inc. acquired a new position in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Manchester Capital Management LLC boosted its stake in shares of Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $34,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Up 0.2 %

BR opened at $211.88 on Thursday. The firm has a market cap of $25.04 billion, a price-to-earnings ratio of 36.16 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81. The business’s 50 day moving average is $208.02 and its two-hundred day moving average is $202.53. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $3.21 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders have sold 94,914 shares of company stock worth $19,815,248 in the last quarter. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $213.33.

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.