Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,649,761 shares of the business services provider’s stock after acquiring an additional 43,533 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $378,175,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BR. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after buying an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Broadridge Financial Solutions by 121.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after buying an additional 6,336 shares during the last quarter. Park Place Capital Corp grew its stake in shares of Broadridge Financial Solutions by 31.3% in the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock worth $1,318,000 after acquiring an additional 1,391 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Broadridge Financial Solutions by 6.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock valued at $7,633,000 after buying an additional 2,279 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

BR opened at $238.29 on Thursday. The firm has a market capitalization of $27.88 billion, a PE ratio of 37.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The firm has a 50 day moving average of $236.66 and a two-hundred day moving average of $227.30. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the business earned $0.92 earnings per share. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 over the last ninety days. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several recent research reports. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. UBS Group boosted 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, February 3rd. Finally, Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $241.00.

Broadridge Financial Solutions 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.