Broadridge Financial Solutions, Inc. (BR) Holdings Increased by Piedmont Investment Advisors Inc.

Piedmont Investment Advisors Inc. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,243 shares of the business services provider’s stock after buying an additional 140 shares during the period. Piedmont Investment Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Great West Life Assurance Co. Can lifted its holdings in Broadridge Financial Solutions by 67.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 194,431 shares of the business services provider’s stock worth $20,103,000 after buying an additional 78,610 shares during the last quarter. Cambria Investment Management L.P. lifted its holdings in shares of Broadridge Financial Solutions by 4.9% in the 1st quarter. Cambria Investment Management L.P. now owns 40,326 shares of the business services provider’s stock valued at $4,181,000 after purchasing an additional 1,888 shares during the last quarter. Commerce Bank lifted its holdings in shares of Broadridge Financial Solutions by 3.3% in the 1st quarter. Commerce Bank now owns 16,275 shares of the business services provider’s stock valued at $1,687,000 after purchasing an additional 520 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Broadridge Financial Solutions by 6.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,510 shares of the business services provider’s stock valued at $1,297,000 after purchasing an additional 749 shares during the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 46.0% in the 1st quarter. National Asset Management Inc. now owns 6,874 shares of the business services provider’s stock valued at $714,000 after purchasing an additional 2,167 shares during the last quarter. 83.80% of the stock is owned by institutional investors.

Several analysts have recently weighed in on BR shares. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Wednesday, April 10th. DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a report on Friday, February 8th. Raymond James raised Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a report on Wednesday, March 13th. Finally, ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Buy” and an average target price of $126.00.



In related news, VP Thomas P. Carey sold 1,215 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $108.82, for a total value of $132,216.30. Following the transaction, the vice president now owns 4,202 shares in the company, valued at approximately $457,261.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 3,875 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $118.99, for a total value of $461,086.25. Following the completion of the transaction, the vice president now owns 5,988 shares in the company, valued at approximately $712,512.12. The disclosure for this sale can be found here. Insiders sold a total of 63,575 shares of company stock worth $7,762,001 in the last 90 days. 2.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions stock opened at $123.90 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $91.34 and a fifty-two week high of $138.24. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $14.39 billion, a PE ratio of 29.57, a PEG ratio of 2.66 and a beta of 0.88.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.10. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Broadridge Financial Solutions had a return on equity of 48.71% and a net margin of 11.31%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.

TRADEMARK VIOLATION WARNING: “Broadridge Financial Solutions, Inc. (BR) Holdings Increased by Piedmont Investment Advisors Inc.” was first published by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at https://dakotafinancialnews.com/2019/05/26/broadridge-financial-solutions-inc-br-holdings-increased-by-piedmont-investment-advisors-inc.html.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

Read More: Portfolio Manager

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.