Handelsbanken Fonder AB Buys 6,829 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Handelsbanken Fonder AB increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,061 shares of the business services provider’s stock after acquiring an additional 6,829 shares during the quarter. Handelsbanken Fonder AB’s holdings in Broadridge Financial Solutions were worth $8,184,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BR. Rafferty Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 5.1% during the fourth quarter. Rafferty Asset Management LLC now owns 9,874 shares of the business services provider’s stock worth $2,032,000 after acquiring an additional 482 shares during the period. Goldman Sachs Group Inc. grew its position in Broadridge Financial Solutions by 22.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock valued at $97,120,000 after buying an additional 86,853 shares during the period. 1832 Asset Management L.P. grew its position in Broadridge Financial Solutions by 10.0% during the fourth quarter. 1832 Asset Management L.P. now owns 5,004 shares of the business services provider’s stock valued at $1,030,000 after buying an additional 454 shares during the period. Elo Mutual Pension Insurance Co purchased a new stake in Broadridge Financial Solutions during the fourth quarter worth about $2,122,000. Finally, State of Tennessee Treasury Department raised its position in Broadridge Financial Solutions by 35.6% in the fourth quarter. State of Tennessee Treasury Department now owns 72,211 shares of the business services provider’s stock worth $14,857,000 after acquiring an additional 18,945 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $215.18 on Tuesday. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The stock has a fifty day moving average of $211.75 and a 200 day moving average of $204.15. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $25.43 billion, a price-to-earnings ratio of 36.72 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $3.21 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Activity

In related news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BR. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

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.