Bank Julius Baer & Co. Ltd Zurich Makes New Investment in Broadridge Financial Solutions, Inc. $BR

Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,705 shares of the business services provider’s stock, valued at approximately $4,389,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $580,000. IFP Advisors Inc grew its stake in Broadridge Financial Solutions by 26.1% during the 1st quarter. IFP Advisors Inc now owns 1,876 shares of the business services provider’s stock valued at $455,000 after purchasing an additional 388 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Broadridge Financial Solutions by 42.2% during the 1st quarter. Allianz Asset Management GmbH now owns 33,780 shares of the business services provider’s stock valued at $8,190,000 after purchasing an additional 10,033 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Broadridge Financial Solutions by 5.1% in the first quarter. Venturi Wealth Management LLC now owns 2,678 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 131 shares during the period. Finally, AE Wealth Management LLC raised its stake in shares of Broadridge Financial Solutions by 19.0% in the first quarter. AE Wealth Management LLC now owns 1,239 shares of the business services provider’s stock worth $301,000 after purchasing an additional 198 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BR shares. UBS Group dropped their target price on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday. Needham & Company LLC raised their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. DA Davidson restated a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $259.83.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $228.34 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. The company has a 50 day moving average price of $231.17 and a 200-day moving average price of $240.98. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of 29.24 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, December 12th. Broadridge Financial Solutions’s payout ratio is currently 49.94%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 3,984 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the transaction, the president directly owned 44,829 shares of the company’s stock, valued at $10,131,354. This represents a 8.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the transaction, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% 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.