118,990 Broadridge Financial Solutions, Inc. $BR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 54.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 99,709 shares of the business services provider’s stock after selling 118,990 shares during the period. Pictet Asset Management Holding SA’s holdings in Broadridge Financial Solutions were worth $16,063,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $1,473,918,000. Jupiter Topco LLC bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth approximately $261,852,000. Van ECK Associates Corp boosted its holdings in shares of Broadridge Financial Solutions by 11.3% during the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock worth $256,875,000 after acquiring an additional 190,301 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $197,921,000. Finally, Amundi grew its position in shares of Broadridge Financial Solutions by 67.5% in the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock valued at $172,070,000 after purchasing an additional 426,587 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $191.56 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.21 and a current ratio of 1.21. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $233.10. The firm has a market cap of $21.67 billion, a P/E ratio of 21.17 and a beta of 0.90. The business’s fifty day moving average is $173.03 and its 200-day moving average is $165.53.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.19. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 10th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 10th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 48.18%.

Insider Activity

In other news, VP Thomas Carey sold 2,501 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares in the company, valued at approximately $1,405,888. The trade was a 22.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Maura Markus sold 3,180 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $191.89, for a total transaction of $610,210.20. Following the sale, the director directly owned 33,769 shares of the company’s stock, valued at approximately $6,479,933.41. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. Royal Bank Of Canada boosted their price target on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. UBS Group reissued a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. DA Davidson restated a “buy” rating and issued a $214.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $212.71.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.