Fifth Third Bancorp Has $4.14 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fifth Third Bancorp trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,393 shares of the business services provider’s stock after selling 112 shares during the period. Fifth Third Bancorp’s holdings in Broadridge Financial Solutions were worth $4,144,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BR. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Broadridge Financial Solutions by 95.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 680,745 shares of the business services provider’s stock worth $85,902,000 after purchasing an additional 332,090 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Broadridge Financial Solutions by 319.8% during the 2nd quarter. Victory Capital Management Inc. now owns 304,908 shares of the business services provider’s stock worth $38,476,000 after purchasing an additional 232,268 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $27,478,000. Baird Financial Group Inc. raised its holdings in Broadridge Financial Solutions by 33.7% during the 2nd quarter. Baird Financial Group Inc. now owns 702,194 shares of the business services provider’s stock worth $86,750,000 after purchasing an additional 177,054 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in Broadridge Financial Solutions by 49.1% during the 2nd quarter. APG Asset Management N.V. now owns 511,755 shares of the business services provider’s stock worth $57,498,000 after purchasing an additional 168,425 shares during the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

In related news, President Christopher John Perry sold 22,348 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $151.57, for a total value of $3,387,286.36. Following the sale, the president now directly owns 63,065 shares in the company, valued at approximately $9,558,762.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Perna sold 20,706 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $145.63, for a total value of $3,015,414.78. Following the completion of the sale, the director now owns 40,820 shares in the company, valued at $5,944,616.60. The disclosure for this sale can be found here. Insiders have sold a total of 256,378 shares of company stock worth $34,773,316 over the last quarter. Company insiders own 2.00% of the company’s stock.

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Rosenblatt Securities raised their price target on shares of Broadridge Financial Solutions from $112.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. BTIG Research downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 11th. Finally, DA Davidson downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $138.00 price objective for the company. in a research report on Wednesday, August 5th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $136.67.

Shares of BR stock opened at $144.92 on Friday. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 35.78 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a 52 week low of $81.90 and a 52 week high of $153.34. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $142.30 and a 200-day moving average of $131.89.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, November 4th. The business services provider reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.35. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $971.21 million. Broadridge Financial Solutions had a return on equity of 48.98% and a net margin of 10.27%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 5.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, December 14th. Broadridge Financial Solutions’s payout ratio is 45.73%.

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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