Toronto Dominion Bank Grows Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Toronto Dominion Bank raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,093 shares of the business services provider’s stock after acquiring an additional 2,989 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Broadridge Financial Solutions worth $14,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. SG Americas Securities LLC boosted its stake in shares of Broadridge Financial Solutions by 60.8% during the fourth quarter. SG Americas Securities LLC now owns 7,122 shares of the business services provider’s stock valued at $1,465,000 after acquiring an additional 2,693 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Broadridge Financial Solutions by 4.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 54,423 shares of the business services provider’s stock worth $11,198,000 after buying an additional 2,415 shares during the last quarter. Pacer Advisors Inc. increased its position in Broadridge Financial Solutions by 11.9% during the fourth quarter. Pacer Advisors Inc. now owns 8,523 shares of the business services provider’s stock worth $1,754,000 after purchasing an additional 903 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Broadridge Financial Solutions by 1,865.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after buying an additional 88,613 shares in the last quarter. Finally, IFG Advisory LLC raised its holdings in shares of Broadridge Financial Solutions by 117.6% during the 4th quarter. IFG Advisory LLC now owns 2,892 shares of the business services provider’s stock valued at $595,000 after buying an additional 1,563 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now 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 Stock Performance

BR traded up $4.65 on Friday, hitting $212.72. The company had a trading volume of 343,817 shares, compared to its average volume of 504,806. Broadridge Financial Solutions, Inc. has a 1-year low of $164.99 and a 1-year high of $213.24. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 36.30 and a beta of 1.04. The company’s fifty day moving average price is $200.77 and its 200 day moving average price is $200.60.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data 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). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share 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. Investors of record on Friday, June 14th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.50%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BR shares. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Five equities 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.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $206.67.

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.