Toronto Dominion Bank Purchases 2,190 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Toronto Dominion Bank lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,571 shares of the business services provider's stock after buying an additional 2,190 shares during the period. Toronto Dominion Bank owned about 0.05% of Broadridge Financial Solutions worth $14,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $34,000. Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $36,000. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions in the fourth quarter worth $41,000. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $45,000. Finally, Promus Capital LLC purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company's stock, valued at approximately $12,355,220.52. This trade represents a 29.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,473 shares of company stock worth $29,072,366 over the last 90 days. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BR shares. DA Davidson reiterated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Needham & Company LLC began 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 on the stock. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $242.69 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The firm has a market cap of $28.51 billion, a P/E ratio of 37.98 and a beta of 0.98. The business's 50 day moving average price is $234.58 and its 200-day moving average price is $233.13.

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 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm's revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 earnings per share. On average, equities research 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 will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.