Harbor Capital Advisors Inc. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,544 shares of the business services provider’s stock after purchasing an additional 158 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $2,158,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $44,746,000. Assenagon Asset Management S.A. raised its holdings in shares of Broadridge Financial Solutions by 3,197.8% in the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after acquiring an additional 198,169 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after acquiring an additional 140,886 shares during the period. International Assets Investment Management LLC purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $274,650,000. Finally, BNP Paribas Financial Markets increased its position in Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after purchasing an additional 98,275 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
BR has been the subject of several research reports. DA Davidson upped their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. UBS Group began coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $226.71.
View Our Latest Stock Report on Broadridge Financial Solutions
Broadridge Financial Solutions Price Performance
Shares of NYSE BR opened at $221.55 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The company has a market cap of $25.90 billion, a PE ratio of 38.33 and a beta of 1.08. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The business has a 50-day simple moving average of $228.47 and a two-hundred day simple moving average of $216.85.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.09 EPS. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.
Broadridge Financial Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.
Broadridge Financial Solutions Profile
(Free Report)
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.
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