DekaBank Deutsche Girozentrale Acquires 476 Shares of Broadridge Financial Solutions, Inc. $BR

DekaBank Deutsche Girozentrale lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.9% in the second quarter, Holdings Channel.com reports. The fund owned 55,970 shares of the business services provider’s stock after purchasing an additional 476 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Broadridge Financial Solutions were worth $13,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. Brighton Jones LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $580,000. GAMMA Investing LLC increased its position in shares of Broadridge Financial Solutions by 28.3% during the 1st quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock worth $990,000 after purchasing an additional 901 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Broadridge Financial Solutions by 2.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,985 shares of the business services provider’s stock worth $966,000 after purchasing an additional 109 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Broadridge Financial Solutions by 3.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 53,528 shares of the business services provider’s stock worth $12,978,000 after purchasing an additional 1,559 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,532 shares of company stock valued at $38,417,208. 1.10% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.4%

BR opened at $232.09 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $27.09 billion, a PE ratio of 32.73 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91. The firm has a 50-day moving average price of $244.52 and a two-hundred day moving average price of $242.18.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm had revenue of $1.05 billion during the quarter. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were given a dividend of $0.975 per share. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Needham & Company LLC increased their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $261.50.

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.