Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Mirabaud Asset Management Ltd

Mirabaud Asset Management Ltd increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,607 shares of the business services provider’s stock after buying an additional 629 shares during the period. Mirabaud Asset Management Ltd’s holdings in Broadridge Financial Solutions were worth $1,941,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after buying an additional 74,674 shares during the last quarter. State Street Corp raised its holdings in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after acquiring an additional 51,439 shares in the last quarter. Geode Capital Management LLC boosted its stake in Broadridge Financial Solutions by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after acquiring an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Broadridge Financial Solutions by 2.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after acquiring an additional 43,533 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Broadridge Financial Solutions by 2.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider’s stock worth $255,442,000 after acquiring an additional 29,483 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock worth $29,397,793 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BR shares. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $241.00.

Broadridge Financial Solutions Stock Down 6.1 %

BR stock opened at $225.19 on Friday. The stock has a market cap of $26.35 billion, a PE ratio of 35.24 and a beta of 1.06. The firm’s 50-day simple moving average is $237.48 and its 200 day simple moving average is $228.53. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data 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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 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.