State Street Corp Grows Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

State Street Corp lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,181,715 shares of the business services provider's stock after buying an additional 51,439 shares during the period. State Street Corp owned about 4.43% of Broadridge Financial Solutions worth $1,118,644,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in Broadridge Financial Solutions by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after purchasing an additional 5,813 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in shares of Broadridge Financial Solutions by 0.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider's stock valued at $218,447,000 after buying an additional 6,634 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider's stock worth $185,417,000 after acquiring an additional 72,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock worth $194,585,000 after acquiring an additional 20,775 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Broadridge Financial Solutions by 3.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider's stock valued at $157,741,000 after acquiring an additional 28,614 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a "neutral" rating and a $250.00 price target for the company. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. StockNews.com downgraded Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 9th. Royal Bank of Canada reissued an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $222.43.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 15,710 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company's stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,066 shares of company stock worth $16,006,777. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.48 during mid-day trading on Friday, hitting $235.43. The company had a trading volume of 389,430 shares, compared to its average volume of 501,504. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of 40.73 and a beta of 1.07. The company's fifty day moving average is $222.41 and its 200-day moving average is $211.66. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates 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 revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions's dividend payout ratio is presently 60.90%.

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.