Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 205.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 305 shares of the business services provider’s stock after purchasing an additional 205 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Broadridge Financial Solutions were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its stake in shares of Broadridge Financial Solutions by 5.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 15,500 shares of the business services provider’s stock worth $3,189,000 after buying an additional 740 shares in the last quarter. Allen Capital Group LLC raised its stake in Broadridge Financial Solutions by 5.1% during the fourth quarter. Allen Capital Group LLC now owns 7,162 shares of the business services provider’s stock worth $1,474,000 after purchasing an additional 346 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Broadridge Financial Solutions by 7.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,069 shares of the business services provider’s stock worth $24,087,000 after purchasing an additional 8,214 shares during the period. Desjardins Global Asset Management Inc. raised its stake in Broadridge Financial Solutions by 13.7% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 715 shares of the business services provider’s stock worth $147,000 after purchasing an additional 86 shares during the period. Finally, Suncoast Equity Management raised its stake in Broadridge Financial Solutions by 2.4% during the fourth quarter. Suncoast Equity Management now owns 21,745 shares of the business services provider’s stock worth $4,474,000 after purchasing an additional 505 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BR shares. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Trading Up 0.2 %

NYSE BR opened at $193.38 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a 52 week low of $139.52 and a 52 week high of $210.24. The stock has a market capitalization of $22.77 billion, a PE ratio of 33.69 and a beta of 0.99. The firm has a 50 day moving average of $200.73 and a two-hundred day moving average of $194.00.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by insiders.

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.