First Hawaiian Bank Sells 400 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

First Hawaiian Bank decreased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,369 shares of the business services provider’s stock after selling 400 shares during the period. First Hawaiian Bank’s holdings in Broadridge Financial Solutions were worth $4,605,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BR. Bogart Wealth LLC grew its holdings in Broadridge Financial Solutions by 384.0% in 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 during the last quarter. True Wealth Design LLC grew its stake in shares of 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 acquiring an additional 142 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in Broadridge Financial Solutions during the 3rd quarter valued at $38,000. FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $45,000. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock valued at $12,264,846 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $3.10 during mid-day trading on Wednesday, hitting $229.42. 670,408 shares of the stock were exchanged, compared to its average volume of 600,507. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The stock’s fifty day simple moving average is $227.53 and its two-hundred day simple moving average is $216.42. 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 company has a market cap of $26.82 billion, a P/E ratio of 39.69 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.53%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley upped their target price 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. DA Davidson raised their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, UBS Group assumed coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.