Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,356 shares of the business services provider's stock after acquiring an additional 7,051 shares during the quarter. Royal London Asset Management Ltd. owned 0.09% of Broadridge Financial Solutions worth $23,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BR. Adero Partners LLC increased its holdings in Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock worth $415,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC increased its stake in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock worth $229,000 after buying an additional 46 shares during the period. Avestar Capital LLC raised its holdings in Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider's stock valued at $268,000 after acquiring an additional 48 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock worth $345,000 after acquiring an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Broadridge Financial Solutions by 0.9% during the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock worth $1,352,000 after purchasing an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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Broadridge Financial Solutions Stock Performance

BR stock traded up $1.35 on Wednesday, hitting $238.29. The company's stock had a trading volume of 395,878 shares, compared to its average volume of 521,263. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 37.29 and a beta of 1.05. The firm has a 50 day moving average of $236.46 and a two-hundred day moving average of $227.22. 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 1 year low of $188.30 and a 1 year high of $246.58.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 55.09%.

Insider Activity

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BR. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Royal Bank of Canada boosted 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. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $239.17.

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.