Sumitomo Mitsui DS Asset Management Company Ltd Acquires 299 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,794 shares of the business services provider’s stock after acquiring an additional 299 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadridge Financial Solutions were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its position in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC increased its holdings in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions during the 3rd quarter worth approximately $38,000. Finally, FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BR. Royal Bank of Canada increased their price objective 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. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. 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. Finally, UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $239.17.

Insiders Place Their Bets

In related news, Director Brett Keller sold 5,442 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock valued at $5,050,766 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of BR stock opened at $240.29 on Monday. The stock’s 50-day moving average price is $231.71 and its 200-day moving average price is $221.59. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $242.39. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 37.60 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business posted $0.92 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

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.