Cullen Frost Bankers Inc. Has $5.72 Million Position in Broadridge Financial Solutions, Inc. $BR

Cullen Frost Bankers Inc. lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,540 shares of the business services provider’s stock after selling 601 shares during the period. Cullen Frost Bankers Inc.’s holdings in Broadridge Financial Solutions were worth $5,721,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BR. Brighton Jones LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $580,000. GAMMA Investing LLC lifted its stake in shares of Broadridge Financial Solutions by 28.3% in the first quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock valued at $990,000 after buying an additional 901 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Broadridge Financial Solutions by 42.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,933 shares of the business services provider’s stock valued at $7,015,000 after buying an additional 8,675 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Broadridge Financial Solutions in the first quarter valued at about $3,069,000. Finally, Continuum Advisory LLC lifted its stake in shares of Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after buying an additional 46 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $232.97 on Thursday. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The firm has a 50 day moving average of $245.06 and a 200-day moving average of $242.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $27.19 billion, a P/E ratio of 32.86 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company had revenue of $1.05 billion during the quarter. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a $0.975 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 84,571 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares of the company’s stock, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Finally, UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $261.50.

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.