Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.3% during the 3rd quarter, Holdings Channel reports. The fund owned 13,495 shares of the business services provider’s stock after purchasing an additional 1,888 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadridge Financial Solutions were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $151,000. Transform Wealth LLC raised its position in shares of Broadridge Financial Solutions by 1.6% during the 3rd quarter. Transform Wealth LLC now owns 40,352 shares of the business services provider’s stock worth $8,711,000 after buying an additional 618 shares in the last quarter. Piscataqua Savings Bank lifted its stake in shares of Broadridge Financial Solutions by 88.0% in the 3rd quarter. Piscataqua Savings Bank now owns 235 shares of the business services provider’s stock worth $51,000 after acquiring an additional 110 shares during the period. Swedbank AB boosted its holdings in shares of Broadridge Financial Solutions by 2.9% in the third quarter. Swedbank AB now owns 25,135 shares of the business services provider’s stock valued at $5,405,000 after acquiring an additional 715 shares in the last quarter. Finally, NBC Securities Inc. increased its stake in shares of Broadridge Financial Solutions by 0.8% during the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $219.10 on Monday. The stock’s fifty day simple moving average is $212.64 and its 200 day simple moving average is $205.15. The stock has a market capitalization of $25.89 billion, a price-to-earnings ratio of 37.39 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $224.32.

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 for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business posted $3.21 EPS. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.61%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was 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 owns 5,530 shares of the company’s stock, valued at $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred 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 sale, the president now owns 67,215 shares in the company, valued at $13,938,374.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last three months. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

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.