Broadridge Financial Solutions, Inc. (NYSE:BR) Position Reduced by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,689 shares of the business services provider’s stock after selling 1,130 shares during the period. First Citizens Bank & Trust Co.’s holdings in Broadridge Financial Solutions were worth $2,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunburst Financial Group LLC raised its holdings in Broadridge Financial Solutions by 4.8% during the fourth 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 in the last quarter. Nicolet Advisory Services LLC raised its holdings in Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock worth $224,000 after purchasing an additional 46 shares in the last quarter. Advisors Capital Management LLC raised its holdings in Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock worth $326,000 after purchasing an additional 49 shares in the last quarter. TCTC Holdings LLC raised its holdings in Broadridge Financial Solutions by 0.9% during the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock worth $1,352,000 after purchasing an additional 52 shares in the last quarter. Finally, Mindset Wealth Management LLC raised its holdings in Broadridge Financial Solutions by 2.8% during the fourth quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider’s stock worth $446,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $250.83.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,068 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. The trade was a 49.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maura A. Markus sold 3,556 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director now owns 30,892 shares of the company’s stock, valued at $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.7%

NYSE BR opened at $243.74 on Tuesday. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $28.63 billion, a price-to-earnings ratio of 38.14 and a beta of 0.96. The firm’s 50 day moving average price is $236.20 and its two-hundred day moving average price is $234.90.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company posted $2.23 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

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.