Argent Trust Co Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Argent Trust Co boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,774 shares of the business services provider’s stock after acquiring an additional 121 shares during the quarter. Argent Trust Co’s holdings in Broadridge Financial Solutions were worth $546,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BR. Oregon Public Employees Retirement Fund lifted its holdings in Broadridge Financial Solutions by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after buying an additional 50 shares in the last quarter. Garrison Asset Management LLC boosted its holdings in Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after purchasing an additional 50 shares during the period. Hutchens & Kramer Investment Management Group LLC boosted its holdings in Broadridge Financial Solutions by 4.5% in the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 51 shares during the period. TIAA Trust National Association grew its stake in Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after purchasing an additional 52 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its holdings in Broadridge Financial Solutions by 3.6% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock worth $324,000 after purchasing an additional 55 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 0.2 %

Shares of Broadridge Financial Solutions stock opened at $208.99 on Friday. The company’s fifty day moving average is $210.29 and its two-hundred day moving average is $203.28. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $24.70 billion, a P/E ratio of 35.66 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $3.21 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BR. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

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.