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

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.

Commerce Bank grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 20.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 53,809 shares of the business services provider's stock after buying 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 reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position 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 worth $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock worth $684,971,000 after purchasing an additional 37,141 shares during the last quarter. Barclays PLC boosted its position in shares of Broadridge Financial Solutions by 2.5% in the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock worth $372,713,000 after purchasing an additional 40,506 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Broadridge Financial Solutions by 1.3% in the 4th quarter. Stifel Financial Corp now owns 1,615,131 shares of the business services provider's stock worth $365,177,000 after purchasing an additional 20,716 shares during the last quarter. Finally, Northern Trust Corp boosted 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 purchasing an additional 314,323 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BR has been the topic of several recent research reports. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Five 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 a consensus target price of $250.83.

Insider Buying and Selling

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

Broadridge Financial Solutions Trading Down 1.2%

BR stock traded down $2.90 during midday trading on Friday, hitting $244.61. 534,573 shares of the company's stock were exchanged, compared to its average volume of 783,146. The stock's fifty day moving average price is $241.40 and its 200-day moving average price is $237.96. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $28.73 billion, a PE ratio of 36.78 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a one year low of $206.29 and a one year high of $257.65.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. Research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

Broadridge Financial Solutions Company 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.