Raymond James Trust N.A. Acquires 535 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Raymond James Trust N.A. boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,618 shares of the business services provider’s stock after purchasing an additional 535 shares during the quarter. Raymond James Trust N.A.’s holdings in Broadridge Financial Solutions were worth $1,304,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. New England Research & Management Inc. acquired a new position in Broadridge Financial Solutions in the 1st quarter valued at approximately $1,465,000. Bank of Nova Scotia raised its holdings in Broadridge Financial Solutions by 642.3% in the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock valued at $16,707,000 after acquiring an additional 70,263 shares in the last quarter. UBS Group AG raised its holdings in Broadridge Financial Solutions by 8.2% in the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after acquiring an additional 14,147 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $227,750,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after acquiring an additional 43,710 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,648 shares of company stock worth $19,297,633. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE BR traded down $1.19 during trading hours on Friday, reaching $209.03. 446,492 shares of the company’s stock were exchanged, compared to its average volume of 524,622. The stock has a market cap of $24.70 billion, a PE ratio of 35.67 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The firm has a fifty day moving average of $206.16 and a 200-day moving average of $201.77. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.21 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BR. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Five investment 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, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $213.33.

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.