First Bank & Trust Reduces Stake in Broadridge Financial Solutions, Inc. (BR)

First Bank & Trust lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,834 shares of the business services provider’s stock after selling 916 shares during the period. First Bank & Trust’s holdings in Broadridge Financial Solutions were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BR. Whittier Trust Co. grew its position in shares of Broadridge Financial Solutions by 117.3% during the 4th quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 156 shares during the period. Pinnacle Bank bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $34,000. 1832 Asset Management L.P. bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $39,000. Capital Financial Planning LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $39,000. Finally, CX Institutional bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 84.15% of the company’s stock.

BR has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, April 10th. SunTrust Banks reiterated a “buy” rating and issued a $110.00 target price on shares of Broadridge Financial Solutions in a research note on Sunday, January 6th. DA Davidson upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Friday, February 8th. Finally, Raymond James upgraded shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $117.67.

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 1,215 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $108.82, for a total transaction of $132,216.30. Following the completion of the sale, the vice president now directly owns 4,202 shares of the company’s stock, valued at $457,261.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan J. Weber sold 1,980 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total transaction of $198,712.80. Following the sale, the director now directly owns 51,588 shares of the company’s stock, valued at $5,177,371.68. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions stock traded up $0.31 during trading hours on Monday, reaching $111.80. The stock had a trading volume of 7,511 shares, compared to its average volume of 903,398. The firm has a market cap of $12.90 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 2.39 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a 52 week low of $91.34 and a 52 week high of $138.24. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.15). The firm had revenue of $953.40 million during the quarter, compared to analysts’ expectations of $967.21 million. Broadridge Financial Solutions had a return on equity of 43.95% and a net margin of 10.25%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 46.30%.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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