Fifth Third Bancorp Purchases 158 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Fifth Third Bancorp grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,185 shares of the business services provider’s stock after acquiring an additional 158 shares during the quarter. Fifth Third Bancorp’s holdings in Broadridge Financial Solutions were worth $5,621,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $34,000. Gen Wealth Partners Inc acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $36,000. Curio Wealth LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $45,000. Finally, Promus Capital LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $52,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.2%

NYSE BR opened at $236.94 on Friday. The stock has a fifty day moving average of $237.39 and a 200-day moving average of $235.05. The stock has a market capitalization of $27.83 billion, a P/E ratio of 37.08 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 52 week low of $192.68 and a 52 week high of $247.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 52.93%.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider now directly owns 1,070 shares of the company’s stock, valued at $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the sale, the director now directly owns 30,892 shares of the company’s stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock valued at $4,352,298. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

BR has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $250.83.

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.