Nissay Asset Management Corp Japan ADV Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nissay Asset Management Corp Japan ADV cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,105 shares of the business services provider’s stock after selling 165 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Broadridge Financial Solutions were worth $3,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NorthRock Partners LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $480,000. OMERS ADMINISTRATION Corp increased its position in shares of Broadridge Financial Solutions by 20.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,924 shares of the business services provider’s stock valued at $1,113,000 after buying an additional 840 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $2,099,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $34,000. Finally, Millennium Management LLC increased its position in shares of Broadridge Financial Solutions by 52.1% during the fourth quarter. Millennium Management LLC now owns 383,762 shares of the business services provider’s stock worth $86,765,000 after purchasing an additional 131,514 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,473 shares of company stock worth $29,072,366 in the last three months. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BR. UBS Group raised their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Up 0.4%

Shares of NYSE:BR opened at $241.32 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a fifty day moving average of $234.22 and a two-hundred day moving average of $232.61. The stock has a market cap of $28.35 billion, a P/E ratio of 37.76 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 52-week low of $192.68 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.23 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s payout ratio is currently 52.93%.

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.