Texas Bank & Trust Co Buys Shares of 1,100 Broadridge Financial Solutions, Inc. (NYSE:BR)

Texas Bank & Trust Co bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,100 shares of the business services provider's stock, valued at approximately $249,000.

Several other hedge funds have also recently made changes to their positions in BR. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the period. Norges Bank bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $106,904,000. Raymond James Financial Inc. purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $104,466,000. Corient Private Wealth LLC raised its holdings in Broadridge Financial Solutions by 882.9% during the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after buying an additional 392,695 shares during the period. Finally, Northern Trust Corp lifted its position 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 buying an additional 314,323 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares of the company's stock, valued at $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert N. Duelks sold 485 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now owns 4,960 shares of the company's stock, valued at approximately $1,180,132.80. This represents a 8.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,302 shares of company stock worth $30,242,095. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BR shares. Royal Bank of Canada reiterated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. UBS Group raised their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Trading Down 0.5%

BR traded down $1.22 on Thursday, reaching $237.87. 394,659 shares of the company traded hands, compared to its average volume of 531,320. The company has a market cap of $27.94 billion, a P/E ratio of 37.23 and a beta of 0.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.01. The firm has a fifty day simple moving average of $235.14 and a two-hundred day simple moving average of $233.23.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $2.23 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) 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.