Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Trimmed by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 34,555 shares of the business services provider’s stock after selling 942 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $7,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BR. Adero Partners LLC lifted its stake in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after buying an additional 46 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Broadridge Financial Solutions by 3.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after buying an additional 52 shares during the last quarter. TCTC Holdings LLC raised its stake in Broadridge Financial Solutions by 0.9% during the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock worth $1,352,000 after acquiring an additional 52 shares during the period. Finally, Mindset Wealth Management LLC boosted its stake in Broadridge Financial Solutions by 2.8% in the fourth quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider’s stock valued at $446,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 2.2 %

Broadridge Financial Solutions stock opened at $242.66 on Tuesday. The company’s 50-day moving average price is $237.21 and its two-hundred day moving average price is $228.00. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of 37.98 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week 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.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping 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 quarter in the previous year, the business earned $0.92 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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 paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.45%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions 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 transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last three months. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BR shares. Royal Bank of Canada increased their price target 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. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price 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. Finally, UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $241.00.

Broadridge Financial Solutions 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.