Zions Bancorporation N.A. Acquires 3,979 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Zions Bancorporation N.A. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 51.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,645 shares of the business services provider’s stock after buying an additional 3,979 shares during the period. Zions Bancorporation N.A.’s holdings in Broadridge Financial Solutions were worth $2,633,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its position in Broadridge Financial Solutions by 24.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock valued at $1,335,000 after buying an additional 1,219 shares in the last quarter. Great Valley Advisor Group Inc. bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at approximately $204,000. Cerity Partners LLC raised its position in shares of Broadridge Financial Solutions by 58.1% during the third quarter. Cerity Partners LLC now owns 21,914 shares of the business services provider’s stock worth $4,713,000 after purchasing an additional 8,051 shares during the period. Algert Global LLC bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth $542,000. Finally, Swedbank AB grew its position in Broadridge Financial Solutions by 2.9% in the 3rd quarter. Swedbank AB now owns 25,135 shares of the business services provider’s stock valued at $5,405,000 after purchasing an additional 715 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The stock was 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 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. Insiders have sold 124,754 shares of company stock valued at $29,397,793 in the last 90 days. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.5 %

BR stock opened at $237.04 on Wednesday. The stock has a market cap of $27.74 billion, a P/E ratio of 37.10 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s fifty day simple moving average is $236.46 and its two-hundred day simple moving average is $227.22. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the company posted $0.92 EPS. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Analyst Ratings Changes

BR has been the topic of several research reports. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $239.17.

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.