Norges Bank Acquires New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Norges Bank acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 472,839 shares of the business services provider's stock, valued at approximately $106,904,000. Norges Bank owned approximately 0.40% of Broadridge Financial Solutions at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BR. Fortitude Family Office LLC raised its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $41,000. Curio Wealth LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $45,000. Salem Investment Counselors Inc. lifted its position in Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after buying an additional 150 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth approximately $52,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on BR shares. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. UBS Group raised their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. DA Davidson reissued a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and an average price target of $241.00.

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Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated 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 $39,973,188.84. This trade represents a 36.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % 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 over the last quarter. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Down 6.1 %

Shares of BR stock traded down $14.72 during mid-day trading on Friday, reaching $225.19. The stock had a trading volume of 740,604 shares, compared to its average volume of 515,833. The firm has a market capitalization of $26.35 billion, a PE ratio of 35.24 and a beta of 1.06. The stock's 50-day moving average price is $237.72 and its two-hundred day moving average price is $228.44. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities analysts expect 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 declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is 55.09%.

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.