Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 17.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,751 shares of the business services provider's stock after purchasing an additional 74,039 shares during the period. JPMorgan Chase & Co. owned about 0.43% of Broadridge Financial Solutions worth $112,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. D.A. Davidson & CO. bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $212,000. FMR LLC lifted its position in shares of Broadridge Financial Solutions by 9.7% during the third quarter. FMR LLC now owns 80,194 shares of the business services provider's stock worth $17,244,000 after purchasing an additional 7,077 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Broadridge Financial Solutions by 4.3% during the third quarter. Public Sector Pension Investment Board now owns 4,840 shares of the business services provider's stock valued at $1,041,000 after purchasing an additional 200 shares during the period. Verition Fund Management LLC purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth about $2,325,000. Finally, Centiva Capital LP purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth about $1,564,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Down 2.2 %

BR stock traded down $4.94 during trading on Monday, reaching $220.10. 945,856 shares of the company traded hands, compared to its average volume of 518,578. The business has a 50 day simple moving average of $237.09 and a 200 day simple moving average of $228.88. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 34.44 and a beta of 1.06.

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Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the company posted $0.92 EPS. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a $0.88 dividend. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.60%. Broadridge Financial Solutions's payout ratio is 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 in the last ninety days. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group raised their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average target price of $241.00.

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.