Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 45.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,390 shares of the business services provider’s stock after selling 2,790 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $697,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Broadridge Financial Solutions by 124.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after purchasing an additional 381,882 shares in the last quarter. APG Asset Management US Inc. purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at about $70,498,000. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $67,605,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Broadridge Financial Solutions by 28.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after buying an additional 323,051 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.67.

Get Our Latest Report on BR

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded up $0.34 on Friday, hitting $198.04. The company’s stock had a trading volume of 365,067 shares, compared to its average volume of 613,185. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 33.80 and a beta of 1.03. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a 12 month low of $152.47 and a 12 month high of $210.24. The stock’s 50-day moving average is $198.37 and its two-hundred day moving average is $199.07.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.62%. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

About Broadridge Financial Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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