Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,794 shares of the business services provider’s stock after purchasing an additional 299 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadridge Financial Solutions were worth $3,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $44,746,000. Assenagon Asset Management S.A. increased its position in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares during the period. Benjamin Edwards Inc. raised its holdings in Broadridge Financial Solutions by 2,302.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after purchasing an additional 140,886 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth about $274,650,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after purchasing an additional 98,275 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports 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 stock an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Trading Up 0.1 %

Broadridge Financial Solutions stock opened at $240.29 on Monday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $242.39. The company has a market capitalization of $28.12 billion, a price-to-earnings ratio of 37.60 and a beta of 1.08. The business’s fifty day simple moving average is $231.71 and its two-hundred day simple moving average is $221.59. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly 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 period last year, the firm posted $0.92 earnings per share. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction 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. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock valued at $5,050,766 over the last 90 days. Corporate 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.