Piscataqua Savings Bank Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Piscataqua Savings Bank grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 88.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 235 shares of the business services provider’s stock after acquiring an additional 110 shares during the period. Piscataqua Savings Bank’s holdings in Broadridge Financial Solutions were worth $51,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. New England Research & Management Inc. bought a new position in Broadridge Financial Solutions during the first quarter worth about $1,465,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after buying an additional 43,710 shares in the last quarter. Tidal Investments LLC raised its holdings in Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after acquiring an additional 8,837 shares during the period. QRG Capital Management Inc. lifted its position in shares of Broadridge Financial Solutions by 72.7% during the first quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock worth $1,436,000 after acquiring an additional 2,950 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after acquiring an additional 2,685 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. 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 MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 673 shares of the firm’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 transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 31,539 shares of the business’s 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 owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,386 shares of company stock worth $28,112,824. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $221.91 on Wednesday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $224.32. The firm’s fifty day moving average price is $212.35 and its 200-day moving average price is $204.83. The stock has a market cap of $26.23 billion, a P/E ratio of 37.87 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.59%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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.