Commerce Bank Reduces Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Commerce Bank trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 46,111 shares of the business services provider’s stock after selling 1,112 shares during the quarter. Commerce Bank’s holdings in Broadridge Financial Solutions were worth $9,915,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the 1st quarter worth approximately $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions in the second quarter worth approximately $37,000. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $217.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares in the company, valued at $43,190,909.19. The trade was a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,033 shares of company stock valued at $23,382,322. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

BR stock opened at $225.39 on Thursday. The stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 38.99 and a beta of 1.05. The firm’s 50-day moving average price is $216.78 and its two-hundred day moving average price is $208.75. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12-month low of $183.60 and a 12-month high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Broadridge Financial Solutions Company 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.