Fifth Third Bancorp Grows Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fifth Third Bancorp grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,537 shares of the business services provider’s stock after purchasing an additional 628 shares during the quarter. Fifth Third Bancorp’s holdings in Broadridge Financial Solutions were worth $6,283,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in Broadridge Financial Solutions by 10.7% in the 1st quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock worth $1,270,000 after buying an additional 788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Broadridge Financial Solutions by 6.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock worth $2,433,000 after acquiring an additional 992 shares during the period. Raymond James Trust N.A. boosted its position in shares of Broadridge Financial Solutions by 126.2% in the first quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock worth $527,000 after acquiring an additional 1,888 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Broadridge Financial Solutions by 1,851.9% in the first quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 500 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Broadridge Financial Solutions by 13.2% during the first quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock worth $1,981,000 after purchasing an additional 1,487 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BR has been the topic of a number of research analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, December 8th. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Raymond James boosted their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $203.12 on Tuesday. The company has a market cap of $23.92 billion, a P/E ratio of 35.39 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a one year low of $139.35 and a one year high of $210.24. The business’s 50-day simple moving average is $201.91 and its 200 day simple moving average is $192.55. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.58%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

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.