KLP Kapitalforvaltning AS Invests $9.16 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

KLP Kapitalforvaltning AS bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 40,400 shares of the business services provider's stock, valued at approximately $9,164,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Qsemble Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $1,412,000. Horizon Kinetics Asset Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider's stock valued at $2,434,000 after buying an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider's stock valued at $550,000 after acquiring an additional 1,204 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in Broadridge Financial Solutions by 121.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider's stock worth $2,486,000 after purchasing an additional 6,336 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BR. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson restated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus price target of $241.00.

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Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded down $2.10 during midday trading on Friday, hitting $236.79. 29,879 shares of the stock were exchanged, compared to its average volume of 474,880. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average price of $236.82 and a 200-day moving average price of $227.38. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58. The stock has a market cap of $27.71 billion, a P/E ratio of 37.06 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.92 EPS. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio is presently 55.09%.

Insider Activity

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company's stock, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 over the last 90 days. Company 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.