Fifth Third Bancorp Trims Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fifth Third Bancorp reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the third quarter, HoldingsChannel reports. The fund owned 31,393 shares of the business services provider’s stock after selling 112 shares during the period. Fifth Third Bancorp’s holdings in Broadridge Financial Solutions were worth $4,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth $31,000. Private Ocean LLC raised its stake in Broadridge Financial Solutions by 48.8% during the 3rd quarter. Private Ocean LLC now owns 244 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 80 shares during the period. Newfound Research LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. raised its stake in Broadridge Financial Solutions by 56.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 399 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 144 shares during the period. Finally, NuWave Investment Management LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $60,000. 81.80% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BR opened at $144.92 on Friday. The stock has a market capitalization of $16.76 billion, a PE ratio of 35.78 and a beta of 0.87. The business has a 50 day simple moving average of $142.30 and a two-hundred day simple moving average of $131.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.51 and a quick ratio of 1.51. Broadridge Financial Solutions, Inc. has a 1-year low of $81.90 and a 1-year high of $153.34.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, November 4th. The business services provider reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.35. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $971.21 million. Broadridge Financial Solutions had a return on equity of 48.98% and a net margin of 10.27%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 5.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 15th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 45.73%.

Several brokerages recently issued reports on BR. BTIG Research downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 11th. DA Davidson downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $138.00 target price on the stock. in a research note on Wednesday, August 5th. They noted that the move was a valuation call. Rosenblatt Securities raised their price target on Broadridge Financial Solutions from $112.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $136.67.

In related news, President Christopher John Perry sold 22,348 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $151.57, for a total transaction of $3,387,286.36. Following the completion of the sale, the president now directly owns 63,065 shares of the company’s stock, valued at approximately $9,558,762.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 91,238 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $127.76, for a total value of $11,656,566.88. Following the sale, the chief executive officer now directly owns 201,329 shares of the company’s stock, valued at $25,721,793.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,378 shares of company stock valued at $34,773,316. Company insiders own 2.00% of the company’s stock.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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

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