Argent Trust Co Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Argent Trust Co increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.6% during the second quarter, Holdings Channel reports. The fund owned 2,774 shares of the business services provider’s stock after acquiring an additional 121 shares during the quarter. Argent Trust Co’s holdings in Broadridge Financial Solutions were worth $546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $32,000. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. purchased a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BR shares. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Trading Up 0.2 %

NYSE BR opened at $208.99 on Friday. The stock has a market cap of $24.70 billion, a P/E ratio of 35.66 and a beta of 1.05. The company’s fifty day simple moving average is $210.29 and its 200-day simple moving average is $203.28. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81.

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 business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,386 shares of company stock valued at $28,112,824. Insiders own 1.60% of the company’s stock.

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.