Wilmington Savings Fund Society FSB Sells 180 Shares of Broadridge Financial Solutions, Inc. $BR

Wilmington Savings Fund Society FSB cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,652 shares of the business services provider’s stock after selling 180 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Broadridge Financial Solutions were worth $3,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BR. Vanguard Group Inc. boosted its holdings in Broadridge Financial Solutions by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock valued at $3,572,199,000 after purchasing an additional 438,381 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Broadridge Financial Solutions by 2.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider’s stock valued at $409,662,000 after purchasing an additional 39,846 shares during the period. Bahl & Gaynor Inc. boosted its holdings in Broadridge Financial Solutions by 3.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock valued at $283,278,000 after purchasing an additional 38,527 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Broadridge Financial Solutions by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock valued at $261,071,000 after purchasing an additional 33,635 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Broadridge Financial Solutions by 577.9% in the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock valued at $251,513,000 after purchasing an additional 883,125 shares during the period. 90.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $235.03 on Wednesday. The firm’s fifty day moving average price is $249.12 and its 200-day moving average price is $242.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $27.43 billion, a P/E ratio of 33.15 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91.

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

Broadridge Financial Solutions Increases Dividend

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

Broadridge Financial Solutions Company 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.