Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,396 shares of the business services provider’s stock after selling 3,503 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Broadridge Financial Solutions worth $23,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hutchens & Kramer Investment Management Group LLC lifted its holdings in shares of 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 valued at $242,000 after buying an additional 51 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after buying an additional 52 shares during the period. TIAA Trust National Association lifted its holdings in shares of 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 valued at $1,120,000 after buying an additional 52 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Broadridge Financial Solutions by 3.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock valued at $324,000 after buying an additional 55 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 10.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock valued at $114,000 after buying an additional 55 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, President Christopher John Perry sold 162 shares of Broadridge Financial Solutions stock in a transaction on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the sale, the president now owns 67,267 shares of the company’s stock, valued at $14,126,070. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $210.00, for a total transaction of $34,020.00. Following the transaction, the president now owns 67,267 shares in the company, valued at $14,126,070. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leslie A. Brun sold 5,739 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $210.05, for a total value of $1,205,476.95. Following the completion of the sale, the director now directly owns 77,318 shares of the company’s stock, valued at $16,240,645.90. The disclosure for this sale can be found here. Insiders sold a total of 98,387 shares of company stock valued at $20,503,110 over the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded down $0.89 during mid-day trading on Friday, hitting $211.21. 82,300 shares of the company were exchanged, compared to its average volume of 521,302. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The business’s 50 day simple moving average is $207.10 and its two-hundred day simple moving average is $202.06. The company has a market capitalization of $24.96 billion, a P/E ratio of 36.19 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.21 earnings per share. Analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Broadridge Financial Solutions Company 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.