DnB Asset Management AS Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

DnB Asset Management AS raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,566 shares of the business services provider’s stock after buying an additional 45 shares during the quarter. DnB Asset Management AS’s holdings in Broadridge Financial Solutions were worth $6,006,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after buying an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 1,204 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after purchasing an additional 6,336 shares during the last quarter. Park Place Capital Corp increased its holdings in shares of Broadridge Financial Solutions by 31.3% in the 4th quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Broadridge Financial Solutions by 6.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock worth $7,633,000 after purchasing an additional 2,279 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

BR opened at $237.60 on Monday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 37.18 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company’s 50 day moving average is $236.97 and its 200 day moving average is $227.77.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $241.00.

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.