Fifth Third Bancorp Sells 7,608 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Fifth Third Bancorp trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,027 shares of the business services provider’s stock after selling 7,608 shares during the period. Fifth Third Bancorp’s holdings in Broadridge Financial Solutions were worth $5,206,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Broadridge Financial Solutions during the third quarter worth about $44,746,000. Assenagon Asset Management S.A. grew its stake in Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after buying an additional 198,169 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Broadridge Financial Solutions by 2,302.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after buying an additional 140,886 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $274,650,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after acquiring an additional 98,275 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $237.48 on Monday. The business has a 50 day moving average price of $230.15 and a 200-day moving average price of $219.23. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. 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 firm has a market cap of $27.76 billion, a PE ratio of 41.09 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 earnings per share. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $226.71.

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.