Sumitomo Mitsui Trust Group Inc. Has $57.08 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 265,440 shares of the business services provider’s stock after purchasing an additional 2,715 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Broadridge Financial Solutions were worth $57,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. Bogart Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $38,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $227.78 on Friday. The stock has a market cap of $26.63 billion, a PE ratio of 39.41 and a beta of 1.05. The stock has a 50-day moving average of $215.95 and a 200-day moving average of $208.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a one year low of $180.31 and a one year high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Analysts Set New Price Targets

Several research firms recently issued reports on BR. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $217.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,696 shares of company stock valued at $24,782,982. Company insiders own 1.30% of the company’s stock.

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.