Cambridge Trust Co. Sells 485 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cambridge Trust Co. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,798 shares of the business services provider’s stock after selling 485 shares during the quarter. Cambridge Trust Co.’s holdings in Broadridge Financial Solutions were worth $368,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Confluence Investment Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $144,033,000. APG Asset Management US Inc. bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $70,498,000. Norges Bank bought a new position in Broadridge Financial Solutions in the fourth quarter valued at $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Broadridge Financial Solutions by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. boosted its holdings in Broadridge Financial Solutions by 16.9% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after acquiring an additional 147,293 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $1.02 on Friday, hitting $215.97. The company’s stock had a trading volume of 655,878 shares, compared to its average volume of 472,736. Broadridge Financial Solutions, Inc. has a 12-month low of $164.99 and a 12-month high of $216.86. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a 50 day moving average of $202.06 and a 200-day moving average of $201.04. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 36.86 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

About Broadridge Financial Solutions

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.