Commerce Bank Buys 9,163 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Commerce Bank boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,809 shares of the business services provider’s stock after acquiring an additional 9,163 shares during the period. Commerce Bank’s holdings in Broadridge Financial Solutions were worth $13,047,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $580,000. Schroder Investment Management Group raised its position in shares of Broadridge Financial Solutions by 3.6% in the fourth quarter. Schroder Investment Management Group now owns 39,584 shares of the business services provider’s stock valued at $8,926,000 after purchasing an additional 1,378 shares during the period. Wellington Management Group LLP raised its position in shares of Broadridge Financial Solutions by 28.4% in the fourth quarter. Wellington Management Group LLP now owns 4,636 shares of the business services provider’s stock valued at $1,048,000 after purchasing an additional 1,026 shares during the period. Geode Capital Management LLC raised its position in shares of Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after purchasing an additional 37,141 shares during the period. Finally, Nicolet Advisory Services LLC raised its position in shares of Broadridge Financial Solutions by 4.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 46 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $244.61 on Friday. The company has a 50 day moving average of $241.40 and a 200 day moving average of $237.85. The stock has a market cap of $28.73 billion, a P/E ratio of 36.78 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 12 month low of $206.29 and a 12 month high of $257.65. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions’s payout ratio is currently 52.93%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director owned 7,242 shares of the company’s stock, valued at $1,754,229.66. The trade was a 40.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the transaction, the insider directly owned 21,167 shares of the company’s stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BR shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $250.83.

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.