Private Trust Co. NA Sells 189 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Private Trust Co. NA cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,568 shares of the business services provider’s stock after selling 189 shares during the quarter. Private Trust Co. NA’s holdings in Broadridge Financial Solutions were worth $337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC lifted its position 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 worth $3,627,000 after buying an additional 8,837 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Broadridge Financial Solutions by 5.1% during 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 in the last quarter. Atria Investments Inc grew its stake in Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares in the last quarter. BDF Gestion acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $3,954,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Broadridge Financial Solutions by 22.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock worth $7,191,000 after purchasing an additional 6,690 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.3 %

Broadridge Financial Solutions stock opened at $235.80 on Thursday. Broadridge Financial Solutions, Inc. has a twelve month low of $186.19 and a twelve month high of $237.74. The stock has a market cap of $27.56 billion, a P/E ratio of 40.80 and a beta of 1.05. The company’s 50-day moving average price is $218.43 and its two-hundred day moving average price is $209.84. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Buying and Selling

In related news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,294 shares of company stock valued at $16,944,095. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

BR has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $222.43.

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.