Washington Trust Bank Buys Shares of 1,400 Broadridge Financial Solutions, Inc. (NYSE:BR)

Washington Trust Bank purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,400 shares of the business services provider’s stock, valued at approximately $301,000.

A number of other hedge funds have also recently made changes to their positions in BR. Jmac Enterprises LLC purchased a new position in Broadridge Financial Solutions in the third quarter valued at about $215,000. Olympiad Research LP bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $302,000. Principal Financial Group Inc. grew its position in shares of Broadridge Financial Solutions by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider’s stock worth $33,898,000 after buying an additional 6,552 shares during the last quarter. Graypoint LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $216,000. Finally, Concurrent Investment Advisors LLC lifted its position in Broadridge Financial Solutions by 5.1% during the third quarter. Concurrent Investment Advisors LLC now owns 8,838 shares of the business services provider’s stock valued at $1,900,000 after acquiring an additional 425 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BR has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.83.

Broadridge Financial Solutions Stock Performance

BR stock traded up $0.34 during midday trading on Thursday, reaching $219.80. The stock had a trading volume of 10,945 shares, compared to its average volume of 518,666. The firm has a fifty day simple moving average of $213.86 and a two-hundred day simple moving average of $206.59. Broadridge Financial Solutions, Inc. has a 52-week low of $175.21 and a 52-week high of $225.29. 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 market cap of $25.69 billion, a PE ratio of 37.43 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. 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 company posted $1.09 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Insider Activity

In related news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,713 shares of company stock valued at $27,967,456 in the last ninety days. Insiders own 1.30% 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.