Fayez Sarofim & Co Has $202.38 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fayez Sarofim & Co boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 895,107 shares of the business services provider’s stock after buying an additional 21,540 shares during the quarter. Fayez Sarofim & Co’s holdings in Broadridge Financial Solutions were worth $202,375,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $106,904,000. Raymond James Financial Inc. bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $104,466,000. Corient Private Wealth LLC grew its holdings in shares of Broadridge Financial Solutions by 882.9% in the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock valued at $99,186,000 after buying an additional 392,695 shares during the period. Zacks Investment Management acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $30,252,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $25,773,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BR has been the subject of several recent analyst reports. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $241.00.

Broadridge Financial Solutions Stock Up 0.3 %

Shares of NYSE BR opened at $236.00 on Monday. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $247.01. The stock’s fifty day moving average is $235.11 and its 200 day moving average is $230.19. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $27.62 billion, a P/E ratio of 36.93 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the business posted $0.92 EPS. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last quarter. Insiders own 1.30% 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.