Trust Co. of Toledo NA OH Acquires Shares of 450 Broadridge Financial Solutions, Inc. $BR

Trust Co. of Toledo NA OH acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 450 shares of the business services provider’s stock, valued at approximately $109,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clarus Group Inc. raised its position in Broadridge Financial Solutions by 1.5% in the second quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 44 shares during the last quarter. Continuum Advisory LLC raised its position in 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 purchasing an additional 46 shares during the last quarter. Norden Group LLC raised its position in Broadridge Financial Solutions by 2.6% in the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 47 shares during the last quarter. Crew Capital Management Ltd. raised its position in Broadridge Financial Solutions by 2.4% in the first quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 48 shares during the last quarter. Finally, Cresset Asset Management LLC raised its position in Broadridge Financial Solutions by 1.8% in the first quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 49 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the firm’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 sale, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock valued at $38,417,208 in the last three months. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.6%

NYSE BR opened at $232.81 on Monday. The business has a 50 day simple moving average of $250.05 and a 200 day simple moving average of $242.59. Broadridge Financial Solutions, Inc. has a one year low of $208.20 and a one year high of $271.91. The stock has a market capitalization of $27.17 billion, a P/E ratio of 32.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

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

Broadridge Financial Solutions Increases Dividend

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

Analysts Set New Price Targets

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

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.