First Citizens Bank & Trust Co. boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 134.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,604 shares of the business services provider’s stock after purchasing an additional 6,083 shares during the period. First Citizens Bank & Trust Co.’s holdings in Broadridge Financial Solutions were worth $1,400,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Squar Milner Financial Services LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $109,000. Bartlett & Co. LLC grew its stake in Broadridge Financial Solutions by 375.0% during the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock worth $109,000 after buying an additional 750 shares in the last quarter. Fort L.P. acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $120,000. Signaturefd LLC grew its stake in Broadridge Financial Solutions by 101.6% during the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock worth $128,000 after buying an additional 562 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $154,000. Hedge funds and other institutional investors own 84.90% of the company’s stock.

BR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Friday, August 10th. Wolfe Research initiated coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, July 17th. They set a “market perform” rating on the stock. Sandler O’Neill reiterated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Finally, SunTrust Banks assumed coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $123.40.

BR stock opened at $116.96 on Friday. The stock has a market capitalization of $13.82 billion, a PE ratio of 27.91, a P/E/G ratio of 2.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.28 and a quick ratio of 1.28. Broadridge Financial Solutions, Inc. has a 12 month low of $83.81 and a 12 month high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.01). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th were issued a $0.485 dividend. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. Broadridge Financial Solutions’s dividend payout ratio is 46.30%.

In other news, CEO Richard J. Daly sold 67,974 shares of the stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $126.61, for a total value of $8,606,188.14. Following the completion of the transaction, the chief executive officer now owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard J. Daly sold 47,192 shares of the stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at approximately $51,945,630.96. The disclosure for this sale can be found here. Insiders sold 370,080 shares of company stock valued at $48,514,337 in the last three months. Company insiders own 2.30% 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 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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