Mitsubishi UFJ Trust & Banking Corp Has $15.92 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,419 shares of the business services provider’s stock after selling 22,235 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Broadridge Financial Solutions were worth $15,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $39,000. Global X Japan Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $41,000. Finally, Curio Wealth LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $45,000. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $237.60 on Friday. The firm has a market cap of $27.80 billion, a PE ratio of 37.18 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 debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50 day moving average price is $236.97 and its two-hundred day moving average price is $227.56.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the firm earned $0.92 EPS. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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 given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

About Broadridge Financial Solutions

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.