Skandinaviska Enskilda Banken AB publ Buys 300 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Skandinaviska Enskilda Banken AB publ raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,127 shares of the business services provider’s stock after acquiring an additional 300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Broadridge Financial Solutions were worth $4,753,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in Broadridge Financial Solutions in the first quarter valued at approximately $144,033,000. APG Asset Management US Inc. acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at about $70,498,000. Norges Bank acquired a new position in Broadridge Financial Solutions during the fourth quarter worth about $67,605,000. Veritas Investment Partners UK Ltd. lifted its holdings in shares of Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after acquiring an additional 147,293 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Broadridge Financial Solutions by 1,966.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,909 shares of the business services provider’s stock valued at $27,552,000 after purchasing an additional 127,428 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 162 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the sale, the president now directly owns 67,267 shares in the company, valued at $14,126,070. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Christopher John Perry sold 162 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the sale, the president now owns 67,267 shares in the company, valued at approximately $14,126,070. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $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 insiders.

Broadridge Financial Solutions Stock Down 0.4 %

BR stock opened at $208.22 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of 35.53 and a beta of 1.05. The stock has a fifty day moving average of $210.46 and a 200-day moving average of $203.36.

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

Broadridge Financial Solutions Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

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.