First Citizens Bank & Trust Co. Has $2.11 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

First Citizens Bank & Trust Co. trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,689 shares of the business services provider's stock after selling 1,130 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Broadridge Financial Solutions were worth $2,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Whipplewood Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at $36,000. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth $45,000. Finally, Promus Capital LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 0.3%

Shares of BR traded down $0.79 during mid-day trading on Tuesday, reaching $242.92. 369,795 shares of the stock traded hands, compared to its average volume of 522,892. The stock has a fifty day simple moving average of $236.20 and a 200 day simple moving average of $234.90. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $28.53 billion, a price-to-earnings ratio of 38.02 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. Broadridge Financial Solutions's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider now directly owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director now directly owns 30,892 shares of the company's stock, valued at $7,509,227.36. This represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock valued at $4,352,298 in the last ninety days. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BR shares. Royal Bank of Canada reiterated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $250.83.

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.