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Commerce Bank Has $13.05 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Broadridge Financial Solutions logo with Computer and Technology background

Key Points

  • Commerce Bank increased its stake in Broadridge Financial Solutions by 20.5% in Q1, now holding over 53,800 shares valued at approximately $13 million.
  • Key institutional investors like Price T Rowe Associates and GAMMA Investing significantly boosted their holdings, indicating strong investor interest in Broadridge.
  • Broadridge's recent earnings report showed a quarterly earnings per share of $2.44, surpassing expectations, though revenue was slightly below consensus estimates at $1.81 billion.
  • Want stock alerts on Broadridge Financial Solutions? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Commerce Bank boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,809 shares of the business services provider's stock after purchasing an additional 9,163 shares during the period. Commerce Bank's holdings in Broadridge Financial Solutions were worth $13,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC lifted its stake in Broadridge Financial Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after purchasing an additional 37,141 shares during the last quarter. Barclays PLC lifted its stake in Broadridge Financial Solutions by 2.5% during the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock valued at $372,713,000 after purchasing an additional 40,506 shares during the last quarter. Stifel Financial Corp lifted its stake in Broadridge Financial Solutions by 1.3% during the fourth quarter. Stifel Financial Corp now owns 1,615,131 shares of the business services provider's stock valued at $365,177,000 after purchasing an additional 20,716 shares during the last quarter. Finally, Northern Trust Corp lifted its stake 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 valued at $362,825,000 after purchasing an additional 314,323 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BR has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC boosted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $258.17.

Get Our Latest Stock Analysis on BR

Broadridge Financial Solutions Stock Up 0.8%

Shares of BR traded up $2.21 during mid-day trading on Wednesday, hitting $267.54. 697,686 shares of the company's stock were exchanged, compared to its average volume of 578,928. The firm has a fifty day moving average of $242.14 and a two-hundred day moving average of $238.28. Broadridge Financial Solutions, Inc. has a twelve month low of $206.29 and a twelve month high of $269.14. The stock has a market cap of $31.43 billion, a price-to-earnings ratio of 40.20 and a beta of 0.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. Broadridge Financial Solutions's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a $0.975 dividend. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio is 52.93%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president directly owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction dated 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 directly owned 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 disclosure for this sale can be found here. Insiders sold 17,048 shares of company stock valued at $4,101,083 in the last quarter. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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