Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by M&T Bank Corp

M&T Bank Corp raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 15.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,514 shares of the business services provider's stock after purchasing an additional 4,194 shares during the period. M&T Bank Corp's holdings in Broadridge Financial Solutions were worth $7,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its position in shares of Broadridge Financial Solutions by 3.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 18,879 shares of the business services provider's stock valued at $4,578,000 after purchasing an additional 571 shares during the last quarter. Walter Public Investments Inc. raised its holdings in shares of Broadridge Financial Solutions by 16.9% in the first quarter. Walter Public Investments Inc. now owns 87,033 shares of the business services provider's stock worth $21,102,000 after buying an additional 12,569 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Broadridge Financial Solutions by 1.5% during the first quarter. Crossmark Global Holdings Inc. now owns 59,412 shares of the business services provider's stock worth $14,405,000 after buying an additional 904 shares during the period. Fullcircle Wealth LLC grew its holdings in shares of Broadridge Financial Solutions by 12.8% during the first quarter. Fullcircle Wealth LLC now owns 1,012 shares of the business services provider's stock valued at $240,000 after buying an additional 115 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of Broadridge Financial Solutions by 30.4% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,756 shares of the business services provider's stock valued at $426,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $3.69 on Friday, hitting $234.90. The company had a trading volume of 639,405 shares, compared to its average volume of 528,364. Broadridge Financial Solutions, Inc. has a twelve month low of $200.63 and a twelve month high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market cap of $27.59 billion, a P/E ratio of 35.32 and a beta of 0.94. The company has a 50-day moving average price of $239.64 and a 200-day moving average price of $236.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $2.23 earnings per share. Broadridge Financial Solutions's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

Analyst Ratings Changes

BR has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and an average price target of $250.83.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the transaction, the insider owned 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock valued at $4,352,298 in the last quarter. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions 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.