Norden Group LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Norden Group LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 22,704 shares of the business services provider’s stock, valued at approximately $4,652,000.

Several other hedge funds have also made changes to their positions in the company. Confluence Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $144,033,000. APG Asset Management US Inc. acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $70,498,000. Norges Bank acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Broadridge Financial Solutions by 28.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after buying an additional 323,051 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. lifted its holdings in Broadridge Financial Solutions by 16.9% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after buying an additional 147,293 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $199.50 on Thursday. Broadridge Financial Solutions, Inc. has a twelve month low of $161.85 and a twelve month high of $210.24. The firm’s fifty day simple moving average is $198.29 and its 200-day simple moving average is $200.05. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 34.04 and a beta of 1.04. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 54.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $239.00 target price on shares of Broadridge Financial Solutions in a report on Friday, June 28th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, Evercore ISI reiterated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $206.67.

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.