EFG Asset Management Americas Corp. Boosts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

EFG Asset Management Americas Corp. increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 35.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,136 shares of the business services provider’s stock after purchasing an additional 1,876 shares during the period. EFG Asset Management Americas Corp.’s holdings in Broadridge Financial Solutions were worth $1,406,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth $144,033,000. APG Asset Management US Inc. bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $70,498,000. Norges Bank purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after purchasing an additional 323,051 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd. increased its position in Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after buying an additional 147,293 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BR. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four investment 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, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Price Performance

BR stock traded down $3.26 during mid-day trading on Friday, hitting $207.59. The company had a trading volume of 632,306 shares, compared to its average volume of 528,298. The company has a 50-day moving average price of $208.46 and a 200 day moving average price of $202.66. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 35.44 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.21 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Insider Buying and Selling

In other news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,914 shares of company stock worth $19,815,248. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions 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.