Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 24.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,381 shares of the business services provider's stock after buying an additional 11,684 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Broadridge Financial Solutions worth $12,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. Bogart Wealth LLC grew its holdings in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock valued at $26,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after purchasing an additional 142 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions during the second quarter valued at $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions during the second quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth $38,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Trading Down 0.6 %

Shares of NYSE BR traded down $1.47 during mid-day trading on Friday, reaching $233.53. The company had a trading volume of 366,702 shares, compared to its average volume of 517,704. The stock has a market cap of $27.30 billion, a price-to-earnings ratio of 40.40 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96. The business's 50-day moving average is $224.43 and its 200-day moving average is $212.87. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company's revenue was down .6% on a year-over-year basis. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions's payout ratio is 60.90%.

Wall Street Analyst Weigh In

BR has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday. DA Davidson lifted their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a report on Tuesday. Morgan Stanley increased their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Six equities 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.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus target price of $226.71.

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company's stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Company insiders own 1.30% of the company's stock.

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.