Toronto Dominion Bank Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Toronto Dominion Bank increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,571 shares of the business services provider's stock after buying an additional 2,190 shares during the period. Toronto Dominion Bank owned about 0.05% of Broadridge Financial Solutions worth $14,147,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $463,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Broadridge Financial Solutions by 15.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,043,126 shares of the business services provider's stock worth $235,840,000 after purchasing an additional 138,207 shares during the period. Woodline Partners LP acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $2,092,000. Vident Advisory LLC lifted its position in shares of Broadridge Financial Solutions by 9.9% in the 4th quarter. Vident Advisory LLC now owns 3,199 shares of the business services provider's stock worth $723,000 after purchasing an additional 287 shares during the period. Finally, Vivaldi Capital Management LP lifted its position in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Vivaldi Capital Management LP now owns 1,796 shares of the business services provider's stock worth $430,000 after purchasing an additional 83 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,873 shares of company stock valued at $31,337,863 over the last three months. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BR. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Finally, UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Stock Up 1.2%

BR stock traded up $2.89 during midday trading on Friday, reaching $242.61. 1,379,327 shares of the company's stock traded hands, compared to its average volume of 523,871. 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 company has a market cap of $28.50 billion, a price-to-earnings ratio of 37.97 and a beta of 0.98. The firm's fifty day moving average price is $235.89 and its 200-day moving average price is $234.19. Broadridge Financial Solutions, Inc. has a 52 week low of $192.68 and a 52 week high of $247.01.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

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.