Whittier Trust Co. Decreases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Whittier Trust Co. trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 42.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 7,134 shares of the business services provider's stock after selling 5,356 shares during the quarter. Whittier Trust Co.'s holdings in Broadridge Financial Solutions were worth $1,730,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $29,000. Whipplewood Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after purchasing an additional 131 shares during the period. Continuum Advisory LLC grew its stake in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after purchasing an additional 46 shares during the period. Olde Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $34,000. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Hope M. Jarkowski sold 1,068 shares of the business'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 transaction, the insider directly owned 1,070 shares of the company's stock, valued at approximately $251,685.40. The trade was a 49.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president directly owned 6,077 shares in the company, valued at approximately $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. Insiders sold 18,116 shares of company stock worth $4,352,298 in the last quarter. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded up $1.94 during mid-day trading on Friday, reaching $239.13. 494,765 shares of the company traded hands, compared to its average volume of 527,253. The company's 50 day moving average price is $239.72 and its 200-day moving average price is $236.32. The firm has a market cap of $28.09 billion, a PE ratio of 35.96 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, Inc. has a 52 week low of $200.63 and a 52 week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted 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. 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 analysts' expectations of $1.86 billion. During the same period in the previous year, the firm earned $2.23 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were issued a $0.88 dividend. The ex-dividend date was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio 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.