Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Lifted by Tobam

Tobam grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,942 shares of the business services provider’s stock after purchasing an additional 357 shares during the period. Tobam’s holdings in Broadridge Financial Solutions were worth $439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $44,746,000. Assenagon Asset Management S.A. lifted its position in shares of Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after acquiring an additional 198,169 shares during the period. Benjamin Edwards Inc. lifted its position in Broadridge Financial Solutions by 2,302.8% in the third 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 during the period. International Assets Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth $274,650,000. Finally, BNP Paribas Financial Markets increased its holdings in Broadridge Financial Solutions by 97.7% in 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 buying an additional 98,275 shares during the period. Institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BR. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada raised 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. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, 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 research note on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Trading Down 0.1 %

BR opened at $239.87 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $242.39. The company has a market cap of $28.04 billion, a price-to-earnings ratio of 37.54 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $231.63 and a 200 day simple moving average of $221.10.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $0.92 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Insiders Place Their Bets

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,303 shares of company stock worth $8,371,507 in the last 90 days. 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.