Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 40.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,608 shares of the business services provider's stock after selling 4,571 shares during the period. Zions Bancorporation N.A.'s holdings in Broadridge Financial Solutions were worth $1,302,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. LifeSteps Financial Inc. purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth $32,000. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Manchester Capital Management LLC increased its position in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider's stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Finally, New Covenant Trust Company N.A. purchased a new stake in Broadridge Financial Solutions during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 0.7 %

BR traded up $1.42 on Friday, hitting $211.95. The company had a trading volume of 366,452 shares, compared to its average volume of 527,462. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 36.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average price of $209.72 and a 200-day moving average price of $203.13. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81.

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

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.80. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 54.61%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company's stock, valued at approximately $1,194,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,386 shares of company stock worth $28,112,824. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BR shares. DA Davidson reiterated a "neutral" rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $213.33.

About Broadridge Financial Solutions

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.