Handelsbanken Fonder AB raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,061 shares of the business services provider’s stock after purchasing an additional 6,829 shares during the quarter. Handelsbanken Fonder AB’s holdings in Broadridge Financial Solutions were worth $8,184,000 at the end of the most recent reporting period.
Several other hedge funds and 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 $144,033,000. Vanguard Group Inc. increased its position in shares of Broadridge Financial Solutions by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock valued at $2,870,556,000 after acquiring an additional 110,886 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Broadridge Financial Solutions by 22.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock worth $97,120,000 after acquiring an additional 86,853 shares in the last quarter. Earnest Partners LLC boosted its position in Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock valued at $74,609,000 after purchasing an additional 75,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.
Broadridge Financial Solutions Stock Performance
NYSE BR opened at $215.18 on Tuesday. The company has a market capitalization of $25.43 billion, a P/E ratio of 36.72 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $211.75 and a two-hundred day moving average price of $204.15.
Broadridge Financial Solutions Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.
Analysts Set New Price Targets
BR has been the topic of several analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.
Read Our Latest Stock Report on Broadridge Financial Solutions
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 shares were 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 owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in the last ninety days. 1.60% of the stock is currently owned by insiders.
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.
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