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

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

A number of other hedge funds have also made changes to their positions in BR. Brighton Jones LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $580,000. Proficio Capital Partners LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $25,773,000. PNC Financial Services Group Inc. grew its stake in Broadridge Financial Solutions by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 51,205 shares of the business services provider's stock worth $11,577,000 after buying an additional 1,257 shares during the last quarter. Larson Financial Group LLC grew its stake in Broadridge Financial Solutions by 123.0% during the 4th quarter. Larson Financial Group LLC now owns 272 shares of the business services provider's stock worth $61,000 after buying an additional 150 shares during the last quarter. Finally, Independent Advisor Alliance grew its stake in Broadridge Financial Solutions by 3.5% during the 4th quarter. Independent Advisor Alliance now owns 23,634 shares of the business services provider's stock worth $5,343,000 after buying an additional 798 shares during the last quarter. 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 during midday trading on Friday, hitting $234.90. The company had a trading volume of 639,405 shares, compared to its average volume of 529,134. The company's 50 day simple moving average is $239.64 and its 200 day simple moving average is $236.20. Broadridge Financial Solutions, Inc. has a 52-week low of $200.63 and a 52-week high of $247.01. The stock has a market cap of $27.59 billion, a price-to-earnings ratio of 35.32 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $2.23 EPS. The company's revenue was up 5.0% on a year-over-year basis. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 52.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BR. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. 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. Finally, Needham & Company LLC began coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $250.83.

Insider Buying and Selling

In other news, insider Hope M. Jarkowski sold 1,068 shares of the firm's 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 completion of the sale, the insider directly owned 1,070 shares of the company's stock, valued at $251,685.40. This trade represents a 49.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president directly owned 6,077 shares of the company's stock, valued at $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock worth $4,352,298. 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.