Toronto Dominion Bank Has $14.56 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Toronto Dominion Bank grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 71,093 shares of the business services provider’s stock after buying an additional 2,989 shares during the period. Toronto Dominion Bank’s holdings in Broadridge Financial Solutions were worth $14,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BR. Hutchens & Kramer Investment Management Group LLC raised its stake in Broadridge Financial Solutions by 4.5% during the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after buying an additional 51 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Broadridge Financial Solutions by 2.3% in the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after acquiring an additional 52 shares in the last quarter. New York Life Investment Management LLC lifted its stake in shares of Broadridge Financial Solutions by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after purchasing an additional 52 shares during the period. TIAA Trust National Association boosted its position in shares of Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after purchasing an additional 52 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in Broadridge Financial Solutions by 3.6% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock worth $324,000 after purchasing an additional 55 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 2.2 %

Shares of NYSE:BR traded up $4.65 during trading on Friday, reaching $212.72. 343,817 shares of the stock were exchanged, compared to its average volume of 504,806. The stock has a fifty day moving average of $200.77 and a two-hundred day moving average of $200.60. Broadridge Financial Solutions, Inc. has a 1-year low of $164.99 and a 1-year high of $213.24. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 36.30 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a $0.80 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.20 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s payout ratio is 54.61%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BR. Royal Bank of Canada reissued an “outperform” rating and issued a $239.00 price target on shares of Broadridge Financial Solutions in a research note on Friday, June 28th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

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.