Hsbc Holdings PLC Has $52.48 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Hsbc Holdings PLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,272 shares of the business services provider’s stock after purchasing an additional 1,013 shares during the period. Hsbc Holdings PLC owned about 0.23% of Broadridge Financial Solutions worth $52,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Broadridge Financial Solutions by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after acquiring an additional 50 shares in the last quarter. Garrison Asset Management LLC boosted its position in Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after buying an additional 50 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC boosted its position in Broadridge Financial Solutions by 4.5% in the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after buying an additional 51 shares in the last quarter. TIAA Trust National Association boosted its position in Broadridge Financial Solutions by 1.0% in the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after buying an additional 52 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its position in Broadridge Financial Solutions by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 10,804 shares of the business services provider’s stock valued at $2,128,000 after buying an additional 54 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BR shares. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Down 0.4 %

BR opened at $208.22 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $24.61 billion, a price-to-earnings ratio of 35.53 and a beta of 1.05. The firm has a 50 day simple moving average of $210.40 and a 200 day simple moving average of $203.32. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.21 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.69%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

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.