Broadridge Financial Solutions, Inc. (NYSE:BR) is Bath Savings Trust Co's 10th Largest Position

Bath Savings Trust Co trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,893 shares of the business services provider's stock after selling 1,189 shares during the quarter. Broadridge Financial Solutions accounts for about 2.8% of Bath Savings Trust Co's portfolio, making the stock its 10th largest position. Bath Savings Trust Co owned 0.10% of Broadridge Financial Solutions worth $27,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Norges Bank acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $106,904,000. Raymond James Financial Inc. bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at $104,466,000. Corient Private Wealth LLC grew its holdings in Broadridge Financial Solutions by 882.9% during the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after acquiring an additional 392,695 shares during the period. Finally, Northern Trust Corp raised its position in shares of Broadridge Financial Solutions by 24.4% in the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock worth $362,825,000 after acquiring an additional 314,323 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider now owns 21,167 shares of the company's stock, valued at $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,873 shares of company stock worth $31,337,863 in the last quarter. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. 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. Royal Bank of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Stock Up 1.2%

Broadridge Financial Solutions stock traded up $2.89 during mid-day trading on Friday, reaching $242.61. The stock had a trading volume of 1,379,327 shares, compared to its average volume of 523,871. The firm has a market capitalization of $28.50 billion, a PE ratio of 37.97 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The stock's 50-day simple moving average is $235.89 and its 200-day simple moving average is $234.15. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) 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 analysts' expectations 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% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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