DnB Asset Management AS Buys 5,619 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

DnB Asset Management AS grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,521 shares of the business services provider’s stock after purchasing an additional 5,619 shares during the quarter. DnB Asset Management AS’s holdings in Broadridge Financial Solutions were worth $4,724,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BR. Morgan Stanley grew its position in Broadridge Financial Solutions by 41.0% during the 4th quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock valued at $944,766,000 after purchasing an additional 2,048,184 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Broadridge Financial Solutions by 85.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,230,810 shares of the business services provider’s stock valued at $299,219,000 after purchasing an additional 1,025,907 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Broadridge Financial Solutions by 86.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock valued at $186,122,000 after purchasing an additional 554,807 shares during the last quarter. Gateway Advisory LLC boosted its holdings in shares of Broadridge Financial Solutions by 14,557.0% during the 1st quarter. Gateway Advisory LLC now owns 472,395 shares of the business services provider’s stock valued at $472,000 after acquiring an additional 469,172 shares during the last quarter. Finally, Fayez Sarofim & Co boosted its holdings in shares of Broadridge Financial Solutions by 41.5% during the 1st quarter. Fayez Sarofim & Co now owns 866,352 shares of the business services provider’s stock valued at $126,981,000 after acquiring an additional 253,880 shares during the last quarter. 89.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BR shares. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $178.00 to $192.00 and gave the company a “neutral” rating in a report on Tuesday, August 22nd. Raymond James raised their price target on shares of Broadridge Financial Solutions from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. DA Davidson raised their price target on shares of Broadridge Financial Solutions from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average price target of $173.67.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $185.14 on Monday. The firm’s 50 day moving average price is $177.19 and its 200-day moving average price is $159.09. Broadridge Financial Solutions, Inc. has a twelve month low of $131.35 and a twelve month high of $189.69. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $21.87 billion, a PE ratio of 35.00 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $3.21 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.11. Broadridge Financial Solutions had a net margin of 10.40% and a return on equity of 42.09%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business earned $2.65 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.63 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.80 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.73. The ex-dividend date is Thursday, September 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.73%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.82%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Keir D. Gumbs sold 2,688 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $186.41, for a total transaction of $501,070.08. Following the sale, the vice president now owns 14,023 shares in the company, valued at approximately $2,614,027.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Christopher John Perry sold 12,834 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $186.45, for a total transaction of $2,392,899.30. Following the sale, the president now owns 77,352 shares in the company, valued at $14,422,280.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Keir D. Gumbs sold 2,688 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $186.41, for a total transaction of $501,070.08. Following the sale, the vice president now owns 14,023 shares in the company, valued at approximately $2,614,027.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,035 shares of company stock worth $34,423,247. Company insiders own 1.60% of the company’s stock.

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.