Zions Bancorporation N.A. Acquires 1,058 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Zions Bancorporation N.A. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,666 shares of the business services provider’s stock after buying an additional 1,058 shares during the period. Zions Bancorporation N.A.’s holdings in Broadridge Financial Solutions were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased 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 valued at approximately $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions in the first quarter valued at approximately $34,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions in the second quarter valued at approximately $37,000. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BR. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective 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 reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions Trading Down 0.5 %

NYSE:BR opened at $227.92 on Friday. The company has a market cap of $26.64 billion, a P/E ratio of 39.43 and a beta of 1.05. The stock’s fifty day moving average price is $215.55 and its two-hundred day moving average price is $207.80. Broadridge Financial Solutions, Inc. has a 1 year low of $180.16 and a 1 year high of $230.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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 issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.54%. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the 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 transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 162 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,696 shares of company stock valued at $24,782,982. 1.30% of the stock is currently owned by company insiders.

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.