DnB Asset Management AS Purchases 45 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

DnB Asset Management AS increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% during the 4th quarter, HoldingsChannel reports. The firm owned 26,566 shares of the business services provider’s stock after buying an additional 45 shares during the period. DnB Asset Management AS’s holdings in Broadridge Financial Solutions were worth $6,006,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC increased its stake in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the third quarter worth approximately $39,000. Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $41,000. Finally, Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BR shares. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $241.00.

Broadridge Financial Solutions Trading Down 0.5 %

BR stock opened at $237.60 on Monday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The firm’s 50-day moving average is $236.97 and its 200 day moving average is $227.77. The company has a market capitalization of $27.80 billion, a PE ratio of 37.18 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $0.92 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Company 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.