Suntrust Banks Inc. Has $923,000 Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Suntrust Banks Inc. lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,591 shares of the business services provider’s stock after selling 156 shares during the quarter. Suntrust Banks Inc.’s holdings in Broadridge Financial Solutions were worth $923,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its position in Broadridge Financial Solutions by 8,044.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,178,116 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 4,126,816 shares during the last quarter. AQR Capital Management LLC increased its position in Broadridge Financial Solutions by 71.4% during the third quarter. AQR Capital Management LLC now owns 1,995,511 shares of the business services provider’s stock valued at $263,308,000 after acquiring an additional 831,086 shares during the last quarter. Northern Trust Corp increased its position in Broadridge Financial Solutions by 1.2% during the fourth quarter. Northern Trust Corp now owns 1,658,872 shares of the business services provider’s stock valued at $159,666,000 after acquiring an additional 19,433 shares during the last quarter. Bank of New York Mellon Corp increased its position in Broadridge Financial Solutions by 26.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,572,745 shares of the business services provider’s stock valued at $151,375,000 after acquiring an additional 332,615 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Broadridge Financial Solutions by 8.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,322,566 shares of the business services provider’s stock valued at $127,241,000 after acquiring an additional 102,927 shares during the last quarter. 84.26% of the stock is currently owned by hedge funds and other institutional investors.

BR has been the topic of a number of analyst reports. SunTrust Banks reiterated a “buy” rating and set a $110.00 price objective on shares of Broadridge Financial Solutions in a research report on Sunday, January 6th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. DA Davidson upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Friday, February 8th. Finally, Raymond James upgraded shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $117.67.

In other Broadridge Financial Solutions news, Director Alan J. Weber sold 1,980 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total transaction of $198,712.80. Following the completion of the sale, the director now directly owns 51,588 shares of the company’s stock, valued at $5,177,371.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 1,215 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $108.82, for a total transaction of $132,216.30. Following the sale, the vice president now directly owns 4,202 shares of the company’s stock, valued at $457,261.64. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Shares of NYSE BR traded down $1.21 during mid-day trading on Friday, reaching $112.79. The company had a trading volume of 836,371 shares, compared to its average volume of 981,449. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.06. The stock has a market cap of $13.05 billion, a PE ratio of 26.92, a PEG ratio of 2.44 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a 52 week low of $91.34 and a 52 week high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a return on equity of 43.95% and a net margin of 10.25%. The company had revenue of $953.40 million during the quarter, compared to the consensus estimate of $967.21 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 4.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 15th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.

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About Broadridge Financial Solutions

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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