Commerce Bank Lowers Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Commerce Bank lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,646 shares of the business services provider's stock after selling 1,465 shares during the quarter. Commerce Bank's holdings in Broadridge Financial Solutions were worth $10,094,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after purchasing an additional 111 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $45,000. Salem Investment Counselors Inc. grew its stake in Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after acquiring an additional 150 shares in the last quarter. Finally, Promus Capital LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $52,000. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company's stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 in the last ninety days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 0.6 %

NYSE:BR traded up $1.51 during midday trading on Thursday, reaching $237.77. 136,490 shares of the stock traded hands, compared to its average volume of 521,807. The business has a 50-day moving average of $234.60 and a two-hundred day moving average of $230.35. 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, Inc. has a 12-month low of $188.30 and a 12-month high of $247.01. The stock has a market capitalization of $27.82 billion, a PE ratio of 37.17 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $0.92 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BR shares. Morgan Stanley lifted their target price 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. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Tuesday. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, DA Davidson reissued a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $241.00.

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.