Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 90.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224 shares of the business services provider’s stock after selling 2,007 shares during the period. Central Pacific Bank Trust Division’s holdings in Broadridge Financial Solutions were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. LifeSteps Financial Inc. acquired a new position in Broadridge Financial Solutions during the first quarter worth $32,000. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Finally, Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth $37,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price objective 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. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company 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 report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Insider Buying and Selling

In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.2 %

BR traded up $0.33 on Friday, hitting $215.33. 341,319 shares of the company were exchanged, compared to its average volume of 529,124. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market cap of $25.45 billion, a price-to-earnings ratio of 36.76 and a beta of 1.05. The firm has a 50-day moving average price of $211.67 and a two-hundred day moving average price of $204.07. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81.

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

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

About Broadridge Financial Solutions

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.