Sumitomo Mitsui Trust Group Inc. Buys 2,715 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 265,440 shares of the business services provider's stock after purchasing an additional 2,715 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Broadridge Financial Solutions worth $57,078,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its position in shares of Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider's stock valued at $43,945,000 after acquiring an additional 198,169 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter worth $274,650,000. Earnest Partners LLC grew its holdings in shares of Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider's stock valued at $74,609,000 after buying an additional 75,006 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider's stock worth $185,417,000 after acquiring an additional 72,018 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Broadridge Financial Solutions by 97.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider's stock worth $21,689,000 after acquiring an additional 52,171 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley lifted 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 research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $217.83.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total value of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares of the company's stock, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 162 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the sale, the president now owns 67,267 shares of the company's stock, valued at $14,126,070. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,696 shares of company stock worth $24,782,982 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 0.1 %

BR traded up $0.22 during trading on Friday, reaching $227.78. The company had a trading volume of 583,317 shares, compared to its average volume of 520,461. The company has a market cap of $26.63 billion, a P/E ratio of 39.41 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $180.31 and a 12 month high of $230.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The business's fifty day moving average price is $215.95 and its 200 day moving average price is $208.02.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Equities analysts anticipate 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 Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 60.90%.

Broadridge Financial Solutions 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.