First National Trust Co Reduces Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

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 lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 48.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at $29,000. Whipplewood Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $34,000. Continuum Advisory LLC lifted its position in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares in the last quarter. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $36,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $2.90 during trading on Friday, hitting $244.61. The stock had a trading volume of 534,573 shares, compared to its average volume of 756,417. Broadridge Financial Solutions, Inc. has a 12 month low of $206.29 and a 12 month high of $257.65. The business's 50-day moving average is $241.40 and its 200 day moving average is $237.85. The firm has a market cap of $28.73 billion, a price-to-earnings ratio of 36.78 and a beta of 0.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

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 (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were given a $0.88 dividend. The ex-dividend date was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.4%. Broadridge Financial Solutions's payout ratio is 52.93%.

Insider Buying and Selling

In related news, insider Hope M. Jarkowski sold 1,068 shares of the company'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 directly owned 1,070 shares in the company, valued at approximately $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the transaction, the director owned 30,892 shares of the company's stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock valued at $4,352,298 in the last three months. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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 set a "buy" rating and a $300.00 target price on the stock. Royal Bank Of Canada restated 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 report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $250.83.

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.