Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,584 shares of the business services provider's stock after buying an additional 1,378 shares during the period. Schroder Investment Management Group's holdings in Broadridge Financial Solutions were worth $8,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Broadridge Financial Solutions by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock worth $3,231,904,000 after acquiring an additional 74,674 shares during the last quarter. State Street Corp boosted its holdings in shares of Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock worth $1,118,644,000 after purchasing an additional 51,439 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock worth $643,018,000 after purchasing an additional 15,208 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after purchasing an additional 43,533 shares during the period. Finally, Bahl & Gaynor Inc. increased its stake in Broadridge Financial Solutions by 2.7% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider's stock valued at $255,442,000 after purchasing an additional 29,483 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling

In related news, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company's stock, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions 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 sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Up 7.1 %

BR traded up $15.34 during trading on Wednesday, hitting $232.56. 617,299 shares of the company's stock were exchanged, compared to its average volume of 519,563. The stock has a 50 day moving average price of $236.00 and a 200 day moving average price of $229.02. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.21 billion, a P/E ratio of 36.39 and a beta of 1.06.

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 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 posted $0.92 earnings per share. As a group, analysts expect 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 was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.51%. Broadridge Financial Solutions's payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

Several research firms have commented on BR. Morgan Stanley lifted their price target 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. DA Davidson restated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada increased 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. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $241.00.

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.