Resona Asset Management Co. Ltd. Buys New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Resona Asset Management Co. Ltd. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,180 shares of the business services provider’s stock, valued at approximately $8,634,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Adero Partners LLC boosted its stake in shares of 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 acquiring an additional 45 shares in the last quarter. Sunburst Financial Group LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 46 shares during the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 46 shares during the period. Foundations Investment Advisors LLC increased its stake in Broadridge Financial Solutions by 3.5% in the 4th 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 in the last quarter. Finally, TCTC Holdings LLC raised its holdings in Broadridge Financial Solutions by 0.9% during the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock worth $1,352,000 after buying an additional 52 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BR. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group boosted their target price 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. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $241.00.

Insiders Place Their Bets

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 2.2 %

NYSE BR opened at $220.10 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $247.01. The firm’s fifty day simple moving average is $237.09 and its 200-day simple moving average is $228.88. The company has a market capitalization of $25.76 billion, a PE ratio of 34.44 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $0.92 EPS. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 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.