Broadridge Financial Solutions, Inc. $BR Stake Lifted by Axa S.A.

Axa S.A. raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 53.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 138,166 shares of the business services provider’s stock after buying an additional 47,939 shares during the quarter. Axa S.A. owned approximately 0.12% of Broadridge Financial Solutions worth $33,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BR. Brighton Jones LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $580,000. Chicago Partners Investment Group LLC boosted its position in shares of Broadridge Financial Solutions by 14.5% during the first quarter. Chicago Partners Investment Group LLC now owns 1,305 shares of the business services provider’s stock worth $308,000 after buying an additional 165 shares during the period. Citigroup Inc. grew its holdings in Broadridge Financial Solutions by 66.5% in the 1st quarter. Citigroup Inc. now owns 138,174 shares of the business services provider’s stock worth $33,502,000 after buying an additional 55,177 shares in the last quarter. JPMorgan Chase & Co. increased its position in Broadridge Financial Solutions by 24.1% in the 1st quarter. JPMorgan Chase & Co. now owns 617,715 shares of the business services provider’s stock valued at $149,771,000 after acquiring an additional 119,964 shares during the period. Finally, Nuveen LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at approximately $91,445,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $225.02 on Wednesday. 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 firm’s 50 day moving average is $228.17 and its 200-day moving average is $240.16. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91. The stock has a market capitalization of $26.27 billion, a P/E ratio of 28.81 and a beta of 0.99.

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

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is 49.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BR. DA Davidson reiterated a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. UBS Group reduced their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday. Finally, Morgan Stanley reduced their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $259.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,214 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the completion of the sale, the vice president directly owned 6,026 shares of the company’s stock, valued at $1,381,520.76. This represents a 62.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the transaction, the president directly owned 44,829 shares in the company, valued at $10,131,354. This represents a 8.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

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.