1,798 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by Eastern Bank

Eastern Bank purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,798 shares of the business services provider’s stock, valued at approximately $387,000.

Other institutional investors also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 15.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,476 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 200 shares during the period. Ledyard National Bank purchased a new position in Broadridge Financial Solutions in the third quarter valued at about $208,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Broadridge Financial Solutions by 93.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 621 shares of the business services provider’s stock worth $134,000 after purchasing an additional 300 shares in the last quarter. Clarus Group Inc. boosted its position in shares of Broadridge Financial Solutions by 47.2% in the third quarter. Clarus Group Inc. now owns 4,189 shares of the business services provider’s stock worth $901,000 after buying an additional 1,344 shares during the period. Finally, Suncoast Equity Management grew its stake in shares of Broadridge Financial Solutions by 2.3% in the third quarter. Suncoast Equity Management now owns 25,145 shares of the business services provider’s stock valued at $5,407,000 after buying an additional 565 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $213.33.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last quarter. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.2 %

BR stock opened at $216.36 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The firm has a 50 day simple moving average of $213.06 and a 200-day simple moving average of $205.51. The company has a market capitalization of $25.57 billion, a P/E ratio of 36.92 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $3.21 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.63%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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.