Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by First National Trust Co

Key Points

• First National Trust Co reduced its stake in Broadridge Financial Solutions by 48.7%, selling 6,839 shares and holding 7,200 shares valued at approximately $1,746,000.
• Broadridge's recent quarterly earnings showed a net margin of 11.65% and a return on equity of 44.82%, with an earnings per share of $2.44, surpassing the consensus estimate.
• The company announced a quarterly dividend of $0.88, translating to a 1.43% dividend yield, with a payout ratio of approximately 52.93%.

First National Trust Co reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 48.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the business services provider's stock after selling 6,839 shares during the quarter. First National Trust Co's holdings in Broadridge Financial Solutions were worth $1,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Broadridge Financial Solutions by 50.0% in 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 purchasing an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC raised its holdings in Broadridge Financial Solutions by 1.2% in the fourth 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 in the last quarter. Barclays PLC raised its holdings in Broadridge Financial Solutions by 2.5% in the fourth 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 in the last quarter. Stifel Financial Corp raised its holdings in Broadridge Financial Solutions by 1.3% in the fourth 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 in the last quarter. Finally, Northern Trust Corp raised its holdings in Broadridge Financial Solutions by 24.4% in the fourth 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 in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider owned 1,070 shares in the company, valued at $251,685.40. The trade was a 49.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BR has been the subject of a number of recent research reports. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price for the company. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Stock Performance

NYSE BR traded up $3.54 during trading hours on Monday, reaching $248.19. The stock had a trading volume of 407,222 shares, compared to its average volume of 567,021. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. Broadridge Financial Solutions, Inc. has a 52-week low of $206.29 and a 52-week high of $257.65. The stock has a fifty day moving average of $241.40 and a 200 day moving average of $237.96. The stock has a market cap of $29.15 billion, a P/E ratio of 37.31 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced 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 business 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%. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 EPS. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend 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.