Eastern Bank Purchases 120 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Eastern Bank boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,918 shares of the business services provider’s stock after buying an additional 120 shares during the quarter. Eastern Bank’s holdings in Broadridge Financial Solutions were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Qsemble Capital Management LP purchased a new position in shares of Broadridge Financial Solutions in the third quarter valued at about $1,412,000. Atria Investments Inc increased its holdings in Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares during the period. Horizon Kinetics Asset Management LLC bought a new position in Broadridge Financial Solutions during the 3rd quarter valued at approximately $483,000. Quest Partners LLC purchased a new stake in Broadridge Financial Solutions in the 3rd quarter worth approximately $2,251,000. Finally, Legacy Capital Wealth Partners LLC grew its position in shares of Broadridge Financial Solutions by 82.7% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after buying an additional 3,216 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,532 shares of company stock valued at $12,264,846. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $225.25 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a 50 day moving average price of $228.78 and a 200-day moving average price of $217.15. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.96. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 38.97 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $226.71.

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.