Broadridge Financial Solutions, Inc. $BR Stock Holdings Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 77.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,863 shares of the business services provider’s stock after buying an additional 26,083 shares during the period. Allianz Asset Management GmbH owned approximately 0.05% of Broadridge Financial Solutions worth $14,549,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BR. Jones Financial Companies Lllp increased its holdings in shares of Broadridge Financial Solutions by 28,222.6% in the first quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock valued at $230,254,000 after buying an additional 946,304 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Broadridge Financial Solutions by 577.9% in the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock valued at $251,513,000 after buying an additional 883,125 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Broadridge Financial Solutions by 3.1% in the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock valued at $3,572,199,000 after buying an additional 438,381 shares in the last quarter. Nuveen LLC bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at $91,445,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Broadridge Financial Solutions by 156.8% in the first quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider’s stock valued at $98,155,000 after buying an additional 247,157 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of several research reports. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Needham & Company LLC boosted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $261.50.

Insiders Place Their Bets

In related news, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the sale, the chief executive officer owned 165,634 shares of the company’s stock, valued at $42,986,992.02. This represents a 33.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock worth $38,417,208 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 0.8%

NYSE BR opened at $230.74 on Tuesday. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $26.93 billion, a PE ratio of 32.54 and a beta of 0.95. The firm’s fifty day simple moving average is $246.23 and its 200-day simple moving average is $242.23.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $1.05 billion for the quarter. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.01%.

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.