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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,295 shares of the business services provider’s stock after buying an additional 233 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadridge Financial Solutions were worth $2,324,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Broadridge Financial Solutions by 6.4% during the third quarter. CWM LLC now owns 5,217 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 316 shares during the period. AE Wealth Management LLC raised its stake in shares of Broadridge Financial Solutions by 1.8% during the third quarter. AE Wealth Management LLC now owns 7,436 shares of the business services provider’s stock valued at $1,331,000 after purchasing an additional 130 shares during the period. IFP Advisors Inc raised its stake in shares of Broadridge Financial Solutions by 33.5% during the third quarter. IFP Advisors Inc now owns 550 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 138 shares during the period. HB Wealth Management LLC raised its stake in shares of Broadridge Financial Solutions by 24.9% during the third quarter. HB Wealth Management LLC now owns 1,716 shares of the business services provider’s stock valued at $307,000 after purchasing an additional 342 shares during the period. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the business’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 transaction, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders sold a total of 48,483 shares of company stock valued at $9,745,637 over the last 90 days. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $195.91 on Wednesday. The company has a market cap of $23.07 billion, a PE ratio of 34.13 and a beta of 0.99. The company has a fifty day moving average price of $200.70 and a two-hundred day moving average price of $194.45. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a 12 month low of $139.52 and a 12 month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm 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 firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Broadridge Financial Solutions Company Profile

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.