Nomura Asset Management Co. Ltd. Purchases 2,279 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Nomura Asset Management Co. Ltd. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 35,497 shares of the business services provider’s stock after acquiring an additional 2,279 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $7,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BR. NBC Securities Inc. lifted its position in Broadridge Financial Solutions by 0.8% during the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after purchasing an additional 45 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.0% in the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 48 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Broadridge Financial Solutions by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after acquiring an additional 50 shares in the last quarter. Garrison Asset Management LLC increased its stake in Broadridge Financial Solutions by 0.3% during the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after acquiring an additional 50 shares during the last quarter. Finally, Brighton Jones LLC raised its position in Broadridge Financial Solutions by 2.5% during the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 52 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of NYSE BR opened at $236.02 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.96. The firm has a market capitalization of $27.59 billion, a price-to-earnings ratio of 40.83 and a beta of 1.07. The stock has a 50 day moving average price of $224.07 and a 200 day moving average price of $212.52. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. DA Davidson lifted their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $226.71.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is currently owned by company insiders.

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.