PNC Financial Services Group Inc. Buys 504 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

PNC Financial Services Group Inc. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 49,948 shares of the business services provider’s stock after acquiring an additional 504 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Broadridge Financial Solutions were worth $10,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC boosted its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at about $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions in the second quarter worth about $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in the first quarter worth about $34,000. Finally, Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $37,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leslie A. Brun sold 5,739 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $210.05, for a total value of $1,205,476.95. Following the transaction, the director now owns 77,318 shares of the company’s stock, valued at $16,240,645.90. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,033 shares of company stock valued at $18,149,572. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.2 %

Shares of BR stock opened at $230.24 on Friday. The stock’s 50-day moving average price is $217.12 and its 200-day moving average price is $208.88. Broadridge Financial Solutions, Inc. has a 12-month low of $185.30 and a 12-month high of $230.30. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 39.83 and a beta of 1.05. 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 (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BR shares. JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, UBS Group started coverage on Broadridge Financial Solutions in a research note on Thursday. They issued a “neutral” rating and a $250.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $222.43.

Broadridge Financial Solutions 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.