Daiwa Securities Group Inc. Grows Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Daiwa Securities Group Inc. boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,114 shares of the business services provider's stock after purchasing an additional 3,132 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Broadridge Financial Solutions were worth $4,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bahl & Gaynor Inc. grew its position in Broadridge Financial Solutions by 0.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider's stock valued at $218,447,000 after purchasing an additional 6,634 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Broadridge Financial Solutions by 8.3% during 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 buying an additional 72,018 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Broadridge Financial Solutions by 3.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider's stock worth $157,741,000 after acquiring an additional 28,614 shares in the last quarter. abrdn plc raised its holdings in shares of Broadridge Financial Solutions by 5.5% in the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider's stock worth $114,451,000 after acquiring an additional 27,869 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Broadridge Financial Solutions by 1.3% in the 2nd quarter. Raymond James & Associates now owns 404,049 shares of the business services provider's stock valued at $79,598,000 after acquiring an additional 5,256 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares of the company's stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company's stock, valued at approximately $2,878,118.98. This trade 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 78,294 shares of company stock worth $16,944,095. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $236.47 on Wednesday. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 40.91 and a beta of 1.05. 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, Inc. has a 52 week low of $185.41 and a 52 week high of $236.50. The firm's 50-day simple moving average is $217.92 and its two-hundred day simple moving average is $209.55.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. Broadridge Financial Solutions's revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 60.90%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a "neutral" rating and a $250.00 price objective on the stock. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $222.43.

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.