Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,571 shares of the business services provider's stock after acquiring an additional 2,190 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Broadridge Financial Solutions worth $14,147,000 at the end of the most recent quarter.

• MarketBeat Week in Review – 05/19 - 05/23

A number of other institutional investors have also modified their holdings of the business. Adero Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock valued at $415,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC increased its holdings in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after acquiring an additional 46 shares during the period. Nicolet Advisory Services LLC increased its holdings in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock valued at $224,000 after acquiring an additional 46 shares during the period. Advisors Capital Management LLC grew its position in Broadridge Financial Solutions by 3.5% in the 4th quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after buying an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its position in Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after buying an additional 52 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now owns 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. The trade was a 36.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,302 shares of company stock valued at $30,242,095. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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Several brokerages have commented on BR. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $250.83.

Get Our Latest Research Report on BR

Broadridge Financial Solutions Trading Up 1.3%

• MarketBeat Week in Review – 05/12 - 05/16

NYSE:BR opened at $240.01 on Wednesday. The company has a market capitalization of $28.19 billion, a PE ratio of 37.56 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 52-week low of $192.68 and a 52-week high of $247.01. The stock has a fifty day simple moving average of $235.56 and a 200-day simple moving average of $233.87.

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

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

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.

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Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).

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