Parkside Financial Bank & Trust Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Parkside Financial Bank & Trust lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) by 51.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,645 shares of the business services provider’s stock after selling 1,756 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Broadridge Financial Solutions were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BR. Front Row Advisors LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $29,000. Riverview Trust Co purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at about $29,000. First Command Bank purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at about $30,000. Carl Stuart Investment Advisor Inc. purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at about $31,000. Finally, Oakworth Capital Inc. grew its holdings in Broadridge Financial Solutions by 105.0% during the 1st quarter. Oakworth Capital Inc. now owns 205 shares of the business services provider’s stock valued at $32,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.8 %

Shares of NYSE BR opened at $170.94 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $132.40 and a 12 month high of $185.40. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 37.57 and a beta of 0.90. The business has a 50-day moving average of $163.01 and a 200-day moving average of $152.13.

Broadridge Financial Solutions (NYSE:BRGet Rating) last issued its quarterly earnings data on Friday, August 12th. The business services provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.62 by $0.03. Broadridge Financial Solutions had a return on equity of 42.29% and a net margin of 9.44%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $2.19 earnings per share. Broadridge Financial Solutions’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.07 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be given a $0.725 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.90 dividend on an annualized basis and a yield of 1.70%. Broadridge Financial Solutions’s payout ratio is presently 56.26%.

Insider Buying and Selling

In related news, Chairman Richard J. Daly sold 72,983 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $175.35, for a total value of $12,797,569.05. Following the completion of the sale, the chairman now owns 143,170 shares in the company, valued at approximately $25,104,859.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Richard J. Daly sold 72,983 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $175.35, for a total value of $12,797,569.05. Following the completion of the sale, the chairman now owns 143,170 shares in the company, valued at approximately $25,104,859.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 16,703 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $179.16, for a total value of $2,992,509.48. Following the completion of the sale, the vice president now owns 12,902 shares of the company’s stock, valued at approximately $2,311,522.32. The disclosure for this sale can be found here. Insiders sold 163,004 shares of company stock worth $28,916,462 in the last quarter. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James boosted their price objective on Broadridge Financial Solutions from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, August 15th.

About Broadridge Financial Solutions

(Get Rating)

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.

Further Reading

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

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