Central Pacific Bank Trust Division Cuts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Central Pacific Bank Trust Division decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 90.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 224 shares of the business services provider’s stock after selling 2,007 shares during the period. Central Pacific Bank Trust Division’s holdings in Broadridge Financial Solutions were worth $48,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised 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 valued at $2,001,000 after buying an additional 50 shares during the last quarter. Garrison Asset Management LLC raised its holdings in Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 50 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC raised its holdings in Broadridge Financial Solutions by 4.5% in the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after purchasing an additional 51 shares in the last quarter. TIAA Trust National Association raised its holdings in Broadridge Financial Solutions by 1.0% in 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, Brighton Jones LLC raised its holdings in Broadridge Financial Solutions by 2.5% in the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 over the last three months. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Performance

NYSE BR traded up $0.33 on Friday, reaching $215.33. 341,319 shares of the stock were exchanged, compared to its average volume of 529,124. The firm has a market capitalization of $25.45 billion, a PE ratio of 36.76 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company’s 50-day simple moving average is $211.67 and its two-hundred day simple moving average is $204.07.

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

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.63%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

About Broadridge Financial Solutions

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.