Shell Asset Management Co. Grows Position in Broadridge Financial Solutions, Inc. (BR)

Shell Asset Management Co. increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,388 shares of the business services provider’s stock after buying an additional 368 shares during the period. Shell Asset Management Co.’s holdings in Broadridge Financial Solutions were worth $4,603,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BR. Janus Henderson Group PLC grew its holdings in shares of Broadridge Financial Solutions by 17.7% during the first quarter. Janus Henderson Group PLC now owns 7,824,319 shares of the business services provider’s stock valued at $811,304,000 after buying an additional 1,177,867 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Broadridge Financial Solutions by 8,044.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,178,116 shares of the business services provider’s stock valued at $43,000 after buying an additional 4,126,816 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Broadridge Financial Solutions by 1.2% during the fourth quarter. Northern Trust Corp now owns 1,658,872 shares of the business services provider’s stock valued at $159,666,000 after buying an additional 19,433 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Broadridge Financial Solutions by 26.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,572,745 shares of the business services provider’s stock valued at $151,375,000 after buying an additional 332,615 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Broadridge Financial Solutions by 80.3% during the fourth quarter. Deutsche Bank AG now owns 1,501,941 shares of the business services provider’s stock valued at $144,559,000 after buying an additional 668,709 shares during the last quarter. 83.80% of the stock is owned by institutional investors.

In related news, VP Thomas P. Carey sold 1,215 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $108.82, for a total value of $132,216.30. Following the sale, the vice president now owns 4,202 shares in the company, valued at $457,261.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laura Matlin sold 3,875 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $118.99, for a total transaction of $461,086.25. Following the completion of the sale, the vice president now owns 5,988 shares in the company, valued at approximately $712,512.12. The disclosure for this sale can be found here. Insiders sold 63,575 shares of company stock worth $7,762,001 in the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Shares of BR stock opened at $123.90 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $91.34 and a 12-month high of $138.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $14.39 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.66 and a beta of 0.88.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

BR has been the topic of a number of recent analyst reports. Raymond James upgraded shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a report on Wednesday, March 13th. DA Davidson cut shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price target on the stock. in a report on Wednesday, May 8th. They noted that the move was a valuation call. SunTrust Banks increased their price target on shares of Broadridge Financial Solutions to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a report on Wednesday, April 10th. Finally, ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $126.00.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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