Sumitomo Mitsui DS Asset Management Company Ltd Buys 233 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 11,295 shares of the business services provider’s stock after acquiring an additional 233 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadridge Financial Solutions were worth $2,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BR. Stifel Financial Corp boosted its position in Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 124.8% during the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after buying an additional 381,882 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $227,750,000. Assenagon Asset Management S.A. lifted its holdings in shares of Broadridge Financial Solutions by 1,865.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock worth $19,209,000 after buying an additional 88,613 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 307.8% during the third quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock worth $19,833,000 after buying an additional 83,546 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BR. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James upped their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Evercore ISI restated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.67.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $195.91 on Wednesday. The business has a fifty day simple moving average of $200.70 and a 200 day simple moving average of $194.45. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 34.13 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a one year low of $139.52 and a one year high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. Broadridge Financial Solutions’s payout ratio is presently 55.75%.

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.