Central Pacific Bank Trust Division Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Central Pacific Bank Trust Division lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 42.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128 shares of the business services provider’s stock after selling 96 shares during the period. Central Pacific Bank Trust Division’s holdings in Broadridge Financial Solutions were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI raised its stake in Broadridge Financial Solutions by 14.7% during the second quarter. National Bank of Canada FI now owns 45,182 shares of the business services provider’s stock valued at $8,879,000 after purchasing an additional 5,792 shares in the last quarter. Savant Capital LLC increased its position in Broadridge Financial Solutions by 44.0% during the second quarter. Savant Capital LLC now owns 3,111 shares of the business services provider’s stock valued at $613,000 after acquiring an additional 951 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 3.9% in the second quarter. Great Lakes Advisors LLC now owns 30,214 shares of the business services provider’s stock valued at $5,952,000 after acquiring an additional 1,121 shares during the period. Asset Dedication LLC lifted its holdings in shares of Broadridge Financial Solutions by 39.5% in the 2nd quarter. Asset Dedication LLC now owns 346 shares of the business services provider’s stock worth $68,000 after acquiring an additional 98 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Broadridge Financial Solutions by 112.7% in the 2nd quarter. Caprock Group LLC now owns 3,673 shares of the business services provider’s stock worth $727,000 after acquiring an additional 1,946 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of recent analyst reports. DA Davidson increased their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Price Performance

BR opened at $229.23 on Monday. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 39.66 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The business’s fifty day simple moving average is $227.02 and its 200-day simple moving average is $216.06.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.54%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

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.