Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Broadridge Financial Solutions by 17.1% in the first quarter, owning approximately 111,877 shares valued at $27.126 million.
• Broadridge recently reported $2.44 EPS for the quarter, surpassing estimates of $2.41, with revenue of $1.81 billion, a 5.0% increase compared to the previous year.
• Insiders sold a total of 18,116 shares of Broadridge stock within the last 90 days, with notable sales including VP Thomas P. Carey and Director Pamela L. Carter, who both decreased their positions significantly.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,877 shares of the business services provider's stock after acquiring an additional 16,339 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Broadridge Financial Solutions worth $27,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BR. Price T Rowe Associates Inc. MD increased its position in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after buying an additional 1,186,555 shares during the period. GAMMA Investing LLC increased its position in Broadridge Financial Solutions by 31,011.4% during the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after buying an additional 986,782 shares during the period. Norges Bank acquired a new position in Broadridge Financial Solutions during the fourth quarter worth approximately $106,904,000. Northern Trust Corp increased its position in Broadridge Financial Solutions by 24.4% during the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock worth $362,825,000 after buying an additional 314,323 shares during the period. Finally, Principal Financial Group Inc. increased its position in Broadridge Financial Solutions by 156.8% during the first quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider's stock worth $98,155,000 after buying an additional 247,157 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the transaction, the director owned 7,242 shares of the company's stock, valued at $1,754,229.66. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president directly owned 6,077 shares in the company, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Down 1.2%

Shares of NYSE BR traded down $2.94 on Friday, hitting $244.57. The company had a trading volume of 181,471 shares, compared to its average volume of 565,896. Broadridge Financial Solutions, Inc. has a 12-month low of $206.29 and a 12-month high of $257.65. The business has a 50 day moving average of $241.25 and a two-hundred day moving average of $237.73. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $28.73 billion, a P/E ratio of 36.78 and a beta of 0.94.

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 EPS 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 the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. Broadridge Financial Solutions's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.23 earnings per share. As a group, equities research 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 company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 52.93%.

Analyst Ratings Changes

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

Broadridge Financial Solutions 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.