Pictet Asset Management Holding SA Purchases 6,321 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Pictet Asset Management Holding SA lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,599 shares of the business services provider’s stock after purchasing an additional 6,321 shares during the period. Pictet Asset Management Holding SA’s holdings in Broadridge Financial Solutions were worth $17,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BR. Adero Partners LLC boosted its position in Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after buying an additional 45 shares during the period. Sunburst Financial Group LLC grew its stake in shares of Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after purchasing an additional 46 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after purchasing an additional 52 shares during the last quarter. TCTC Holdings LLC increased its holdings in Broadridge Financial Solutions by 0.9% in the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after purchasing an additional 52 shares during the period. Finally, Mindset Wealth Management LLC raised its position in Broadridge Financial Solutions by 2.8% during the 4th quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider’s stock worth $446,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the subject of several recent research reports. DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Trading Up 0.9 %

NYSE BR opened at $244.70 on Wednesday. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 38.29 and a beta of 1.05. The business’s fifty day moving average is $237.43 and its 200-day moving average is $228.23. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the business earned $0.92 EPS. Equities research analysts predict 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 Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

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.