1832 Asset Management L.P. Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

1832 Asset Management L.P. raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,004 shares of the business services provider’s stock after purchasing an additional 454 shares during the quarter. 1832 Asset Management L.P.’s holdings in Broadridge Financial Solutions were worth $1,030,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Broadridge Financial Solutions by 680.1% in the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after buying an additional 74,387 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $227,750,000. Bank of Nova Scotia lifted its holdings in shares of Broadridge Financial Solutions by 642.3% in the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after buying an additional 70,263 shares in the last quarter. Crown Oak Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $7,032,000. Finally, UBS Group AG lifted its holdings in shares of Broadridge Financial Solutions by 8.2% in the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after buying an additional 14,147 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.67.

View Our Latest Analysis on Broadridge Financial Solutions

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.2 %

Shares of BR opened at $198.04 on Monday. The company’s fifty day moving average is $198.37 and its 200 day moving average is $199.17. Broadridge Financial Solutions, Inc. has a fifty-two week low of $152.47 and a fifty-two week high of $210.24. The stock has a market capitalization of $23.40 billion, a PE ratio of 33.80 and a beta of 1.03. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $2.05 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 54.61%.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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