ING Groep NV Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

ING Groep NV raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 233.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,069 shares of the business services provider's stock after buying an additional 37,166 shares during the quarter. ING Groep NV's holdings in Broadridge Financial Solutions were worth $11,411,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Empowered Funds LLC lifted its position in Broadridge Financial Solutions by 32.4% during the first quarter. Empowered Funds LLC now owns 1,922 shares of the business services provider's stock valued at $394,000 after purchasing an additional 470 shares during the period. Sei Investments Co. increased its holdings in Broadridge Financial Solutions by 4.1% during the first quarter. Sei Investments Co. now owns 19,637 shares of the business services provider's stock valued at $4,021,000 after buying an additional 779 shares during the last quarter. Intech Investment Management LLC raised its position in Broadridge Financial Solutions by 173.1% in the first quarter. Intech Investment Management LLC now owns 12,211 shares of the business services provider's stock worth $2,502,000 after acquiring an additional 7,739 shares during the period. Vanguard Group Inc. grew its holdings in Broadridge Financial Solutions by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider's stock valued at $2,866,238,000 after purchasing an additional 39,537 shares during the period. Finally, TIAA Trust National Association lifted its holdings in Broadridge Financial Solutions by 1.0% during the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider's stock valued at $1,120,000 after purchasing an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded up $0.22 on Friday, reaching $227.78. 582,793 shares of the stock were exchanged, compared to its average volume of 520,461. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05. The business has a 50 day moving average price of $215.95 and a two-hundred day moving average price of $208.02. Broadridge Financial Solutions, Inc. has a twelve month low of $180.31 and a twelve month high of $230.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the previous year, the business posted $1.09 EPS. The business's revenue was down .6% compared to the same quarter last year. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued 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 is Friday, December 13th. Broadridge Financial Solutions's dividend payout ratio is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 162 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares in the company, valued at $14,126,070. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now directly owns 206,349 shares of the company's stock, valued at $43,190,909.19. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,696 shares of company stock valued at $24,782,982. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several recent analyst reports. 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $217.83.

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.