Commerce Bank Sells 671 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Commerce Bank decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% during the 1st quarter, Holdings Channel reports. The firm 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 quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Headinvest LLC purchased a new stake in Broadridge Financial Solutions in the third quarter worth $32,000. LifeSteps Financial Inc. purchased a new position in Broadridge Financial Solutions during the first quarter valued at $32,000. Stuart Chaussee & Associates Inc. purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at $34,000. Manchester Capital Management LLC lifted its position in Broadridge Financial Solutions by 57.1% during the fourth 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, BKM Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at $37,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Broadridge Financial Solutions Stock Performance

NYSE BR traded down $0.48 during trading hours on Wednesday, hitting $199.51. The company’s stock had a trading volume of 129,734 shares, compared to its average volume of 503,825. The company’s 50 day simple moving average is $198.77 and its two-hundred day simple moving average is $200.17. The company has a market cap of $23.58 billion, a P/E ratio of 34.03 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 12 month low of $164.45 and a 12 month high of $210.24. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

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). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions 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 transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions 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.