TIAA Trust National Association Has $1.12 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

TIAA Trust National Association increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,469 shares of the business services provider’s stock after acquiring an additional 52 shares during the period. TIAA Trust National Association’s holdings in Broadridge Financial Solutions were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LifeSteps Financial Inc. bought a new stake in Broadridge Financial Solutions in the 1st quarter worth about $32,000. Stuart Chaussee & Associates Inc. bought a new stake in Broadridge Financial Solutions in the 4th quarter worth about $34,000. Manchester Capital Management LLC grew its position in Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth about $37,000. Finally, Exchange Traded Concepts LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $2.93 during trading on Friday, reaching $201.89. 590,978 shares of the company’s stock traded hands, compared to its average volume of 439,896. The company has a market capitalization of $23.86 billion, a P/E ratio of 34.45 and a beta of 1.04. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm’s 50-day moving average is $200.23 and its 200 day moving average is $200.30. Broadridge Financial Solutions, Inc. has a 1 year low of $164.99 and a 1 year high of $211.68.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Activity

In other news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction 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 owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction 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 transaction, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Royal Bank of Canada reissued an “outperform” rating and set a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.