Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Swedbank AB

Swedbank AB boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,135 shares of the business services provider’s stock after acquiring an additional 715 shares during the period. Swedbank AB’s holdings in Broadridge Financial Solutions were worth $5,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $44,746,000. Assenagon Asset Management S.A. grew its position in 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 valued at $43,945,000 after buying an additional 198,169 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions in the 3rd quarter valued at $274,650,000. Dimensional Fund Advisors LP raised its position in Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after buying an additional 72,018 shares during the last quarter. Finally, Dearborn Partners LLC lifted its stake in shares of Broadridge Financial Solutions by 53.5% in the 2nd quarter. Dearborn Partners LLC now owns 135,095 shares of the business services provider’s stock worth $26,614,000 after acquiring an additional 47,081 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BR shares. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $222.43.

Broadridge Financial Solutions Stock Down 0.3 %

Broadridge Financial Solutions stock opened at $235.80 on Thursday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $186.19 and a fifty-two week high of $237.74. The firm has a market capitalization of $27.56 billion, a price-to-earnings ratio of 40.88 and a beta of 1.05. The stock’s fifty day moving average is $218.43 and its two-hundred day moving average is $209.84. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,294 shares of company stock valued at $16,944,095. 1.30% of the stock is owned by corporate insiders.

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.