Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,114 shares of the business services provider’s stock after buying an additional 3,132 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadridge Financial Solutions were worth $4,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BR. Bogart Wealth LLC increased its position in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. Finally, Morgan Stanley upped their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $222.43.

Broadridge Financial Solutions Price Performance

BR opened at $236.47 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $217.92 and its 200 day moving average price is $209.55. Broadridge Financial Solutions, Inc. has a fifty-two week low of $185.41 and a fifty-two week high of $236.50. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 40.91 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,294 shares of company stock valued at $16,944,095 in the last quarter. Company insiders own 1.30% of the company’s stock.

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.