Principal Financial Group Inc. Purchases 6,552 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Principal Financial Group Inc. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,645 shares of the business services provider's stock after buying an additional 6,552 shares during the period. Principal Financial Group Inc. owned about 0.13% of Broadridge Financial Solutions worth $33,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider's stock valued at $43,945,000 after purchasing an additional 198,169 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $274,650,000. Earnest Partners LLC raised its holdings in shares of Broadridge Financial Solutions by 25.9% during the 1st quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider's stock valued at $74,609,000 after buying an additional 75,006 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider's stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Broadridge Financial Solutions by 97.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider's stock valued at $21,689,000 after acquiring an additional 52,171 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares of the company's stock, valued at $6,308,431.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,535 shares of company stock worth $36,613,975. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BR. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $217.83.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $2.08 during trading on Tuesday, reaching $228.29. 241,672 shares of the company's stock were exchanged, compared to its average volume of 519,198. The company has a quick ratio of 1.08, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a twelve month low of $176.29 and a twelve month high of $228.75. The firm's fifty day moving average price is $214.56 and its 200-day moving average price is $207.28. The stock has a market capitalization of $26.68 billion, a PE ratio of 39.14 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

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.