Bangor Savings Bank Lowers Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bangor Savings Bank lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364 shares of the business services provider’s stock after selling 88 shares during the period. Bangor Savings Bank’s holdings in Broadridge Financial Solutions were worth $88,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BR. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $580,000. DAVENPORT & Co LLC raised its holdings in shares of Broadridge Financial Solutions by 6.5% in the 4th quarter. DAVENPORT & Co LLC now owns 1,475 shares of the business services provider’s stock valued at $333,000 after acquiring an additional 90 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Broadridge Financial Solutions by 20.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,105 shares of the business services provider’s stock valued at $4,091,000 after acquiring an additional 3,120 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in shares of Broadridge Financial Solutions by 5.7% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,722 shares of the business services provider’s stock valued at $388,000 after acquiring an additional 93 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Broadridge Financial Solutions by 2.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,794 shares of the business services provider’s stock valued at $3,119,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective on the stock. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $250.83.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider now directly owns 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider now owns 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

BR opened at $245.45 on Monday. The stock’s 50 day simple moving average is $236.25 and its 200 day simple moving average is $234.81. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $192.68 and a 1 year high of $247.01. The firm has a market cap of $28.83 billion, a price-to-earnings ratio of 38.41 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.23 EPS. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.43%. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

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.