Sienna Gestion Has $11.32 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sienna Gestion lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,038 shares of the business services provider’s stock after selling 2,805 shares during the quarter. Broadridge Financial Solutions accounts for approximately 0.9% of Sienna Gestion’s portfolio, making the stock its 25th largest position. Sienna Gestion’s holdings in Broadridge Financial Solutions were worth $11,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BR. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Broadridge Financial Solutions by 14.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,939 shares of the business services provider’s stock worth $955,000 after acquiring an additional 494 shares in the last quarter. Financial Network Wealth Advisors LLC grew its position in Broadridge Financial Solutions by 47.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 124 shares during the last quarter. National Pension Service boosted its stake in shares of Broadridge Financial Solutions by 8.4% during the first quarter. National Pension Service now owns 170,469 shares of the business services provider’s stock valued at $41,332,000 after purchasing an additional 13,255 shares during the period. Russell Investments Group Ltd. lifted its stake in Broadridge Financial Solutions by 65.3% in the first quarter. Russell Investments Group Ltd. now owns 125,879 shares of the business services provider’s stock worth $30,463,000 after acquiring an additional 49,744 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after acquiring an additional 117 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider owned 21,167 shares in the company, valued at $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director owned 7,242 shares in the company, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,477 shares of company stock worth $5,093,784. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BR shares. Needham & Company LLC raised their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $261.50 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market cap of $30.63 billion, a PE ratio of 36.88 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 52 week low of $206.29 and a 52 week high of $271.91. The business’s fifty day simple moving average is $244.81 and its 200-day simple moving average is $239.49.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.04. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.50 EPS. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 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 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.5%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.65%.

Broadridge Financial Solutions Company 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.