Pictet Asset Management Holding SA Has $18 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Pictet Asset Management Holding SA lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,599 shares of the business services provider’s stock after buying an additional 6,321 shares during the quarter. Pictet Asset Management Holding SA owned about 0.07% of Broadridge Financial Solutions worth $17,997,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BR. Adero Partners LLC grew its holdings in Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC grew its stake in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after purchasing an additional 46 shares during the period. Foundations Investment Advisors LLC increased its holdings in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares during the last quarter. TCTC Holdings LLC increased its holdings in Broadridge Financial Solutions by 0.9% in the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after purchasing an additional 52 shares during the last quarter. Finally, Mindset Wealth Management LLC boosted its holdings in Broadridge Financial Solutions by 2.8% during the fourth quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider’s stock worth $446,000 after buying an additional 54 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $241.00.

Insider Activity at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.9 %

BR opened at $244.70 on Wednesday. The stock has a market capitalization of $28.63 billion, a P/E ratio of 38.29 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The firm’s fifty day simple moving average is $237.43 and its 200 day simple moving average is $228.23.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the firm earned $0.92 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

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.