Meiji Yasuda Asset Management Co Ltd. Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,031 shares of the business services provider’s stock after buying an additional 157 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Broadridge Financial Solutions were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BR. New England Research & Management Inc. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $1,465,000. Bank of Nova Scotia lifted its position in Broadridge Financial Solutions by 642.3% in the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock valued at $16,707,000 after purchasing an additional 70,263 shares during the last quarter. UBS Group AG boosted its stake in shares of Broadridge Financial Solutions by 8.2% during the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after purchasing an additional 14,147 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after purchasing an additional 43,710 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Broadridge Financial Solutions by 99.6% in the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after buying an additional 8,837 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $208.22 on Friday. The business has a fifty day simple moving average of $210.46 and a two-hundred day simple moving average of $203.36. The firm has a market capitalization of $24.61 billion, a P/E ratio of 35.53 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81.

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

Broadridge Financial Solutions Increases Dividend

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

Insiders Place Their Bets

In other news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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 approximately $10,721,078.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.