TIAA Trust National Association Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

TIAA Trust National Association reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,866 shares of the business services provider’s stock after selling 63 shares during the period. TIAA Trust National Association’s holdings in Broadridge Financial Solutions were worth $1,100,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Adero Partners LLC grew its stake in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after buying an additional 45 shares during the period. Sunburst Financial Group LLC boosted its position in Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after purchasing an additional 46 shares during the period. Avestar Capital LLC increased its holdings in Broadridge Financial Solutions by 4.0% in the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC grew its stake in shares of Broadridge Financial Solutions by 0.9% in the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after buying an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BR shares. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $241.00.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.4 %

Shares of NYSE BR opened at $239.12 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s 50 day simple moving average is $236.82 and its 200 day simple moving average is $227.38. The company has a market cap of $27.98 billion, a price-to-earnings ratio of 37.42 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company earned $0.92 earnings per share. Equities research 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 Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.