Jensen Investment Management Inc. Has $366.76 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Jensen Investment Management Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,622,179 shares of the business services provider’s stock after selling 21,036 shares during the period. Broadridge Financial Solutions comprises 3.3% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 11th biggest position. Jensen Investment Management Inc.’s holdings in Broadridge Financial Solutions were worth $366,758,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BR. Assetmark Inc. increased its holdings in Broadridge Financial Solutions by 130.0% in the third quarter. Assetmark Inc. now owns 667 shares of the business services provider’s stock worth $143,000 after buying an additional 377 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Broadridge Financial Solutions in the third quarter worth approximately $529,000. Prime Capital Investment Advisors LLC acquired a new position in Broadridge Financial Solutions in the third quarter worth approximately $210,000. Victory Capital Management Inc. increased its holdings in Broadridge Financial Solutions by 6.0% in the third quarter. Victory Capital Management Inc. now owns 50,736 shares of the business services provider’s stock worth $10,910,000 after buying an additional 2,871 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Broadridge Financial Solutions by 1.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,892 shares of the business services provider’s stock worth $2,772,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.0 %

BR opened at $227.76 on Monday. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 35.64 and a beta of 1.05. The business has a 50 day moving average of $235.40 and a 200-day moving average of $226.11.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Insider Buying and Selling

In related news, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This trade represents a 36.11 % 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 over the last ninety days. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $239.17.

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.