Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 31.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,697 shares of the business services provider’s stock after selling 22,396 shares during the period. Toronto Dominion Bank’s holdings in Broadridge Financial Solutions were worth $9,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Broadridge Financial Solutions by 61.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,556 shares of the business services provider’s stock worth $4,444,000 after buying an additional 8,551 shares during the period. Marietta Investment Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 55.6% in the 2nd quarter. Marietta Investment Partners LLC now owns 2,070 shares of the business services provider’s stock valued at $408,000 after acquiring an additional 740 shares during the period. Xponance Inc. raised its position in Broadridge Financial Solutions by 4.3% in the 2nd quarter. Xponance Inc. now owns 25,853 shares of the business services provider’s stock valued at $5,093,000 after purchasing an additional 1,054 shares during the last quarter. Bank of Montreal Can boosted its stake in Broadridge Financial Solutions by 8.1% during the 2nd quarter. Bank of Montreal Can now owns 111,043 shares of the business services provider’s stock worth $22,432,000 after purchasing an additional 8,360 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd grew its position in Broadridge Financial Solutions by 26.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 13,861 shares of the business services provider’s stock worth $2,731,000 after purchasing an additional 2,861 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BR has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. 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 raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of BR stock opened at $212.00 on Friday. The business’s fifty day moving average price is $210.87 and its 200 day moving average price is $203.61. The firm has a market capitalization of $25.05 billion, a PE ratio of 36.18 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $3.21 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase 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%.

Insider Activity

In related news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The sale was disclosed in a legal 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 that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The disclosure for this sale can be found here. In the last three months, insiders sold 134,386 shares of company stock worth $28,112,824. Company insiders own 1.60% of the company’s stock.

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.