Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 265,440 shares of the business services provider’s stock after buying an additional 2,715 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Broadridge Financial Solutions worth $57,078,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Broadridge Financial Solutions by 32.4% during the first quarter. Empowered Funds LLC now owns 1,922 shares of the business services provider’s stock valued at $394,000 after buying an additional 470 shares in the last quarter. Sei Investments Co. raised its stake in shares of Broadridge Financial Solutions by 4.1% in the 1st quarter. Sei Investments Co. now owns 19,637 shares of the business services provider’s stock valued at $4,021,000 after acquiring an additional 779 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Broadridge Financial Solutions by 173.1% in the 1st quarter. Intech Investment Management LLC now owns 12,211 shares of the business services provider’s stock worth $2,502,000 after purchasing an additional 7,739 shares during the last quarter. Vanguard Group Inc. boosted its position in Broadridge Financial Solutions by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after purchasing an additional 39,537 shares during the period. Finally, TIAA Trust National Association grew its holdings in Broadridge Financial Solutions by 1.0% during the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of BR opened at $227.78 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The company has a 50-day simple moving average of $215.95 and a 200-day simple moving average of $208.02. Broadridge Financial Solutions, Inc. has a 52 week low of $180.31 and a 52 week high of $230.00. The firm has a market capitalization of $26.63 billion, a P/E ratio of 39.41 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 6,501 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $210.22, for a total value of $1,366,640.22. Following the completion of the transaction, the president now directly owns 67,771 shares of the company’s stock, valued at approximately $14,246,819.62. This represents a 8.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the sale, the chief executive officer now directly owns 206,349 shares in the company, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,696 shares of company stock valued at $24,782,982 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

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.