Zions Bancorporation National Association UT Purchases New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Zions Bancorporation National Association UT acquired 12,829 shares of Broadridge Financial Solutions, valued at approximately $3,111,000, making a significant new investment in the company.
• Several institutional investors, including Citigroup Inc. and National Bank of Canada FI, increased their holdings in Broadridge during the first quarter of the year, indicating positive sentiment about the company's performance.
• Broadridge Financial Solutions recently announced an increase in its quarterly dividend to $0.975 per share, reflecting strong financial performance and a commitment to returning value to shareholders.

Zions Bancorporation National Association UT bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 12,829 shares of the business services provider's stock, valued at approximately $3,111,000.

A number of other large investors also recently bought and sold shares of BR. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at $29,000. Whipplewood Advisors LLC raised its position in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $34,000. Continuum Advisory LLC increased its position in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after buying an additional 46 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BR shares. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley increased their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Needham & Company LLC increased their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Performance

BR stock traded up $0.13 during trading on Wednesday, hitting $262.63. The company had a trading volume of 344,216 shares, compared to its average volume of 584,857. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $244.46 and a 200-day moving average price of $239.33. Broadridge Financial Solutions, Inc. has a 1-year low of $206.29 and a 1-year high of $271.91. The firm has a market cap of $30.76 billion, a PE ratio of 37.04 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is currently 55.01%.

Insider Buying and Selling

In other news, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares in the company, valued at $7,509,227.36. This represents a 10.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,477 shares of company stock worth $5,093,784 in the last quarter. Corporate insiders own 1.30% of the company's stock.

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.