Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Swedbank AB

Swedbank AB increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,135 shares of the business services provider’s stock after purchasing an additional 715 shares during the period. Swedbank AB’s holdings in Broadridge Financial Solutions were worth $5,405,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $44,746,000. Assenagon Asset Management S.A. boosted its stake in Broadridge Financial Solutions by 3,197.8% during the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after buying an additional 198,169 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $274,650,000. Dimensional Fund Advisors LP lifted its holdings in shares of Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after acquiring an additional 72,018 shares during the last quarter. Finally, Dearborn Partners LLC boosted its position in shares of Broadridge Financial Solutions by 53.5% during the 2nd quarter. Dearborn Partners LLC now owns 135,095 shares of the business services provider’s stock worth $26,614,000 after purchasing an additional 47,081 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $222.43.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 25.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. This trade represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,294 shares of company stock worth $16,944,095 over the last three months. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $235.80 on Thursday. Broadridge Financial Solutions, Inc. has a 52-week low of $186.19 and a 52-week high of $237.74. The company has a 50 day moving average of $218.43 and a 200 day moving average of $209.84. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $27.56 billion, a P/E ratio of 40.88 and a beta of 1.05.

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, topping analysts’ consensus estimates 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 company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

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.