Geode Capital Management LLC Buys 136,386 Shares of Broadridge Financial Solutions, Inc. $BR

Geode Capital Management LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% in the second quarter, HoldingsChannel reports. The fund owned 3,292,241 shares of the business services provider’s stock after acquiring an additional 136,386 shares during the period. Geode Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $797,031,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BR. Vanguard Group Inc. increased its holdings in shares of Broadridge Financial Solutions by 3.1% in the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock valued at $3,572,199,000 after purchasing an additional 438,381 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Broadridge Financial Solutions by 3.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,751,266 shares of the business services provider’s stock valued at $425,610,000 after buying an additional 61,659 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Broadridge Financial Solutions by 3.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock valued at $283,278,000 after buying an additional 38,527 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Broadridge Financial Solutions by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock worth $261,071,000 after acquiring an additional 33,635 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock worth $251,513,000 after acquiring an additional 883,125 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Timothy C. Gokey sold 5,674 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BR has been the subject of a number of research reports. DA Davidson reiterated a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC lifted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. UBS Group cut their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $259.83.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $225.49 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91. The firm has a fifty day moving average of $234.29 and a 200-day moving average of $241.36. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 28.87 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The firm had revenue of $1.05 billion for the quarter. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio is 49.94%.

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.