M&T Bank Corp Has $4.06 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

M&T Bank Corp cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,722 shares of the business services provider’s stock after selling 131 shares during the period. M&T Bank Corp’s holdings in Broadridge Financial Solutions were worth $4,058,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BR. Jensen Investment Management Inc. lifted its stake in Broadridge Financial Solutions by 2.4% during the third quarter. Jensen Investment Management Inc. now owns 1,825,339 shares of the business services provider’s stock worth $326,827,000 after purchasing an additional 43,235 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Broadridge Financial Solutions by 1,700.7% during the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after buying an additional 1,456,847 shares during the last quarter. Northern Trust Corp boosted its stake in Broadridge Financial Solutions by 5.6% in the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock valued at $236,879,000 after buying an additional 70,258 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in Broadridge Financial Solutions by 1.3% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock worth $222,665,000 after acquiring an additional 14,005 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Broadridge Financial Solutions by 0.5% during the 4th quarter. California Public Employees Retirement System now owns 733,194 shares of the business services provider’s stock valued at $150,855,000 after purchasing an additional 3,840 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of a number of research reports. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Raymond James boosted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and an average price target of $206.67.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Insiders sold a total of 25,761 shares of company stock valued at $5,223,959 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $201.36 on Wednesday. The stock’s 50 day moving average price is $200.29 and its two-hundred day moving average price is $195.66. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 35.08 and a beta of 0.98. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions, Inc. has a 52-week low of $144.54 and a 52-week high of $210.24.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

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.