Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,840 shares of the business services provider’s stock after purchasing an additional 200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Broadridge Financial Solutions were worth $1,041,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $44,746,000. Assenagon Asset Management S.A. raised 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 acquiring an additional 198,169 shares during the period. International Assets Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $274,650,000. BNP Paribas Financial Markets boosted its stake in Broadridge Financial Solutions by 97.7% in the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after acquiring an additional 98,275 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after acquiring an additional 72,018 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $222.43.

Insider Buying and Selling

In other news, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,066 shares of company stock valued at $16,006,777 over the last three months. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.2 %

BR stock opened at $235.43 on Friday. The firm’s 50-day moving average is $222.41 and its two-hundred day moving average is $211.66. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of 40.73 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for 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 firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is currently 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.