Toronto Dominion Bank Cuts Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Toronto Dominion Bank lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 31.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,697 shares of the business services provider's stock after selling 22,396 shares during the period. Toronto Dominion Bank's holdings in Broadridge Financial Solutions were worth $9,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. LifeSteps Financial Inc. acquired a new stake in Broadridge Financial Solutions during the first quarter worth about $32,000. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions in the second quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions in the second quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions during the first quarter worth $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions in the second quarter valued at $37,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BR. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th. Finally, DA Davidson reiterated a "neutral" rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of "Moderate Buy" and an average target price of $213.33.

Broadridge Financial Solutions Stock Up 0.1 %

NYSE:BR traded up $0.28 during trading hours on Friday, hitting $212.03. The company's stock had a trading volume of 613,692 shares, compared to its average volume of 529,791. The stock has a market capitalization of $25.06 billion, a P/E ratio of 36.18 and a beta of 1.05. 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 stock has a fifty day moving average of $210.87 and a 200-day moving average of $203.60. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $3.21 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 60.07%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the firm'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 transaction, the president now owns 67,215 shares of the company's stock, valued at $13,938,374.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Laura Matlin sold 673 shares of the firm's 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 transaction, the vice president now owns 5,530 shares of the company's stock, valued at $1,194,480. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Christopher John Perry sold 31,539 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company's stock, valued at $13,938,374.55. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock valued at $28,112,824 over the last ninety days. Insiders own 1.60% of the company's stock.

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.