Resona Asset Management Co. Ltd. Invests $8.63 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Resona Asset Management Co. Ltd. bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 38,180 shares of the business services provider's stock, valued at approximately $8,634,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $106,904,000. Raymond James Financial Inc. acquired a new stake in Broadridge Financial Solutions in the fourth quarter worth $104,466,000. Corient Private Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after purchasing an additional 392,695 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $25,773,000. Finally, American Century Companies Inc. raised its stake in Broadridge Financial Solutions by 51.0% during the 4th quarter. American Century Companies Inc. now owns 252,984 shares of the business services provider's stock worth $57,197,000 after buying an additional 85,463 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded up $3.18 during midday trading on Friday, hitting $231.56. 574,975 shares of the company's stock were exchanged, compared to its average volume of 522,195. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $27.10 billion, a PE ratio of 36.24 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The company's 50 day moving average price is $235.60 and its 200 day moving average price is $229.42.

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Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 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 quarter in the previous year, the business earned $0.92 earnings per share. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.52%. Broadridge Financial Solutions's dividend payout ratio is currently 55.09%.

Analyst Ratings Changes

BR has been the subject of a number of research reports. Morgan Stanley increased their target price on 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. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Thursday. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, DA Davidson reaffirmed a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $241.00.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated 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 sale, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert N. Duelks sold 485 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company's stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock worth $29,397,793 over the last three months. Insiders own 1.30% of the company's stock.

About Broadridge Financial Solutions

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.