Sompo Asset Management Co. Ltd. Has $583,000 Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sompo Asset Management Co. Ltd. decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,710 shares of the business services provider’s stock after selling 210 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Broadridge Financial Solutions during the third quarter worth $44,746,000. Assenagon Asset Management S.A. increased its position in shares of Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares in the last quarter. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $274,650,000. Dimensional Fund Advisors LP boosted its position in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after buying an additional 72,018 shares in the last quarter. Finally, Dearborn Partners LLC grew its stake in Broadridge Financial Solutions by 53.5% during the second quarter. Dearborn Partners LLC now owns 135,095 shares of the business services provider’s stock worth $26,614,000 after buying an additional 47,081 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $230.24 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 1-year low of $185.30 and a 1-year high of $230.30. The stock has a market capitalization of $26.91 billion, a P/E ratio of 39.83 and a beta of 1.05. The business has a 50-day moving average price of $217.48 and a two-hundred day moving average price of $209.27.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,294 shares of company stock worth $16,944,095. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BR shares. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley increased their price objective 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. Finally, UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research note on Thursday. They issued a “neutral” rating and a $250.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $222.43.

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.