Robeco Institutional Asset Management B.V. Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,771 shares of the business services provider’s stock after purchasing an additional 1,396 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Broadridge Financial Solutions were worth $14,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Perigon Wealth Management LLC increased its stake in Broadridge Financial Solutions by 8.7% during the first quarter. Perigon Wealth Management LLC now owns 1,494 shares of the business services provider’s stock worth $362,000 after purchasing an additional 119 shares during the period. Alpine Bank Wealth Management purchased a new stake in Broadridge Financial Solutions during the first quarter worth about $56,000. Golden State Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter worth about $29,000. Lecap Asset Management Ltd. purchased a new stake in Broadridge Financial Solutions during the first quarter worth about $1,541,000. Finally, Legacy Advisors LLC increased its stake in Broadridge Financial Solutions by 3.8% during the first quarter. Legacy Advisors LLC now owns 10,598 shares of the business services provider’s stock worth $2,579,000 after purchasing an additional 392 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BR has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president now directly owns 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the transaction, the insider now owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock worth $4,352,298 over the last three months. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.2%

BR stock opened at $239.59 on Friday. The company’s 50 day moving average price is $238.76 and its 200 day moving average price is $235.33. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. Broadridge Financial Solutions, Inc. has a fifty-two week low of $195.64 and a fifty-two week high of $247.01. The firm has a market capitalization of $28.14 billion, a price-to-earnings ratio of 36.03 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions’s dividend 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.