Massmutual Trust Co. FSB ADV Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Massmutual Trust Co. FSB ADV lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) by 15,580.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 784 shares of the business services provider’s stock after purchasing an additional 779 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Broadridge Financial Solutions were worth $112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fulton Bank N.A. raised its position in shares of Broadridge Financial Solutions by 21.3% during the 2nd quarter. Fulton Bank N.A. now owns 2,047 shares of the business services provider’s stock valued at $292,000 after buying an additional 359 shares during the period. Vigilant Capital Management LLC raised its position in shares of Broadridge Financial Solutions by 6.0% during the 2nd quarter. Vigilant Capital Management LLC now owns 85,528 shares of the business services provider’s stock valued at $12,192,000 after buying an additional 4,874 shares during the period. Confluence Investment Management LLC raised its position in shares of Broadridge Financial Solutions by 1.4% during the 2nd quarter. Confluence Investment Management LLC now owns 811,925 shares of the business services provider’s stock valued at $115,740,000 after buying an additional 10,857 shares during the period. Amalgamated Bank raised its position in shares of Broadridge Financial Solutions by 3.0% during the 1st quarter. Amalgamated Bank now owns 34,363 shares of the business services provider’s stock valued at $5,351,000 after buying an additional 996 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at approximately $50,000. 87.14% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.9 %

Shares of NYSE BR opened at $165.07 on Tuesday. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 36.28 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98. Broadridge Financial Solutions, Inc. has a 52-week low of $132.40 and a 52-week high of $185.40. The business’s 50 day moving average is $165.79 and its two-hundred day moving average is $153.29.

Broadridge Financial Solutions (NYSE:BRGet Rating) last announced its earnings results on Friday, August 12th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. Broadridge Financial Solutions had a return on equity of 42.29% and a net margin of 9.44%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.19 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 7.07 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.725 per share. The ex-dividend date is Wednesday, September 14th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.64. Broadridge Financial Solutions’s dividend payout ratio is currently 63.74%.

Wall Street Analyst Weigh In

Separately, Raymond James lifted their price target on shares of Broadridge Financial Solutions from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, August 15th.

Insider Transactions at Broadridge Financial Solutions

In other news, Chairman Richard J. Daly sold 72,983 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $175.35, for a total transaction of $12,797,569.05. Following the sale, the chairman now owns 143,170 shares of the company’s stock, valued at $25,104,859.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Robert Schifellite sold 69,616 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $179.18, for a total transaction of $12,473,794.88. Following the completion of the transaction, the senior vice president now owns 57,616 shares in the company, valued at $10,323,634.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard J. Daly sold 72,983 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $175.35, for a total transaction of $12,797,569.05. Following the transaction, the chairman now owns 143,170 shares of the company’s stock, valued at approximately $25,104,859.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,004 shares of company stock valued at $28,916,462. 1.90% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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