Pictet Asset Management Holding SA Has $18 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Pictet Asset Management Holding SA boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,599 shares of the business services provider's stock after buying an additional 6,321 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.07% of Broadridge Financial Solutions worth $17,997,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BR. Fortitude Family Office LLC lifted its stake in shares of 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 acquiring an additional 111 shares during the period. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $45,000. Salem Investment Counselors Inc. grew its position in shares of Broadridge Financial Solutions by 200.0% during 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 period. Finally, Promus Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $52,000. 90.03% of the stock is currently owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares of the company's stock, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

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Broadridge Financial Solutions Stock Down 6.1 %

Shares of Broadridge Financial Solutions stock traded down $14.72 on Friday, hitting $225.19. The company had a trading volume of 740,604 shares, compared to its average volume of 516,868. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a 50-day moving average of $237.48 and a 200-day moving average of $228.80. The firm has a market capitalization of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results 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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were given a dividend of $0.88 per share. 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 dividend payout ratio (DPR) is currently 55.09%.

Analysts Set New Price Targets

Several brokerages have commented on BR. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group upped their price target 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. Finally, DA Davidson reissued a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. 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, the stock presently has an average rating of "Hold" and a consensus 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.