Vanguard Group Inc. Raises Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Vanguard Group Inc. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,031,420 shares of the business services provider’s stock after purchasing an additional 298,273 shares during the quarter. Vanguard Group Inc. owned 12.83% of Broadridge Financial Solutions worth $3,653,086,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Broadridge Financial Solutions by 56.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock valued at $1,344,000 after acquiring an additional 1,987 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Broadridge Financial Solutions by 40.8% in the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock valued at $52,900,000 after purchasing an additional 63,798 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Broadridge Financial Solutions by 62.5% during the second quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock worth $167,000 after purchasing an additional 265 shares during the last quarter. Triangle Securities Wealth Management acquired a new position in Broadridge Financial Solutions in the second quarter worth about $784,000. Finally, Shell Asset Management Co. grew its stake in Broadridge Financial Solutions by 87.9% in the second quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider’s stock worth $7,308,000 after purchasing an additional 14,067 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BR has been the topic of several research reports. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson reissued a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Morgan Stanley reduced their price objective on 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. Needham & Company LLC boosted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, UBS Group dropped their target price 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, November 13th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $226.43 on Thursday. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. The business’s fifty day moving average price is $232.19 and its two-hundred day moving average price is $241.10. The firm has a market capitalization of $26.43 billion, a PE ratio of 28.99 and a beta of 0.96.

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

Broadridge Financial Solutions Announces Dividend

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

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total value of $900,384.00. Following the sale, the president owned 44,829 shares in the company, valued at approximately $10,131,354. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at approximately $37,020,545.45. This trade represents a 3.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions 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.