Cullen Frost Bankers Inc. Decreases Stake in Broadridge Financial Solutions, Inc. (BR)

Cullen Frost Bankers Inc. reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,070 shares of the business services provider’s stock after selling 2,735 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Broadridge Financial Solutions were worth $5,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of Broadridge Financial Solutions by 112.5% in the 2nd quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock valued at $297,411,000 after buying an additional 1,367,735 shares during the last quarter. Northern Trust Corp lifted its holdings in Broadridge Financial Solutions by 11.4% during the 2nd quarter. Northern Trust Corp now owns 1,914,848 shares of the business services provider’s stock valued at $220,399,000 after purchasing an additional 195,241 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Broadridge Financial Solutions by 28.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,477,573 shares of the business services provider’s stock valued at $170,067,000 after purchasing an additional 330,694 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Broadridge Financial Solutions by 11.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,240,020 shares of the business services provider’s stock valued at $142,765,000 after purchasing an additional 129,612 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Broadridge Financial Solutions by 16.9% during the 2nd quarter. Voya Investment Management LLC now owns 976,588 shares of the business services provider’s stock valued at $112,405,000 after purchasing an additional 141,283 shares during the last quarter. 84.63% of the stock is owned by institutional investors.

BR stock opened at $114.25 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.96. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.44 and a beta of 0.88. Broadridge Financial Solutions, Inc. has a fifty-two week low of $85.52 and a fifty-two week high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.01). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th were given a dividend of $0.485 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.94 annualized dividend and a yield of 1.70%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.

Several equities research analysts have issued reports on BR shares. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Friday, August 10th. Wolfe Research started coverage on Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating for the company. Sandler O’Neill reaffirmed a “hold” rating and set a $130.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Finally, SunTrust Banks started coverage on Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price target for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $123.40.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 210,188 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the transaction, the chief executive officer now owns 387,336 shares in the company, valued at approximately $51,182,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James M. Young sold 44,726 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $129.79, for a total value of $5,804,987.54. Following the transaction, the vice president now owns 64,848 shares in the company, valued at approximately $8,416,621.92. The disclosure for this sale can be found here. Insiders have sold a total of 370,080 shares of company stock worth $48,514,337 in the last quarter. Company insiders own 2.30% of the company’s stock.

Broadridge Financial Solutions Company 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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