Asset Management One Co. Ltd. Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Asset Management One Co. Ltd. grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,361 shares of the business services provider's stock after acquiring an additional 6,608 shares during the period. Asset Management One Co. Ltd.'s holdings in Broadridge Financial Solutions were worth $11,259,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. BSW Wealth Partners grew its holdings in Broadridge Financial Solutions by 5.9% during the 3rd quarter. BSW Wealth Partners now owns 1,627 shares of the business services provider's stock worth $350,000 after acquiring an additional 91 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Broadridge Financial Solutions by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 20,967 shares of the business services provider's stock worth $4,536,000 after purchasing an additional 2,079 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Broadridge Financial Solutions by 56.6% during the third quarter. Harbor Capital Advisors Inc. now owns 9,386 shares of the business services provider's stock valued at $2,018,000 after purchasing an additional 3,391 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Broadridge Financial Solutions by 7.2% during the third quarter. Princeton Global Asset Management LLC now owns 17,472 shares of the business services provider's stock valued at $3,757,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in Broadridge Financial Solutions during the third quarter valued at approximately $216,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $1.72 during mid-day trading on Thursday, reaching $221.18. The company had a trading volume of 427,599 shares, compared to its average volume of 520,649. The stock has a market capitalization of $25.85 billion, a P/E ratio of 37.74 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $175.21 and a 52-week high of $225.29. The stock has a 50 day moving average of $213.86 and a two-hundred day moving average of $206.59. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Analyst Ratings Changes

BR has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Finally, Morgan Stanley raised 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $217.83.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Christopher John Perry sold 17,534 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares of the company's stock, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,713 shares of company stock valued at $27,967,456 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

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.