Candriam S.C.A. Increases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Candriam S.C.A. lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,378 shares of the business services provider’s stock after purchasing an additional 4,229 shares during the quarter. Candriam S.C.A.’s holdings in Broadridge Financial Solutions were worth $4,155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $39,000. Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $41,000. Finally, Truvestments Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BR. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five 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 currently has an average rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $241.30 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58. The stock has a market capitalization of $28.24 billion, a price-to-earnings ratio of 37.76 and a beta of 1.05. The stock has a fifty day simple moving average of $235.35 and a two-hundred day simple moving average of $225.40. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business posted $0.92 earnings per share. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was 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 of the company’s stock, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,441 shares of company stock worth $1,547,835. 1.30% of the stock is currently owned by company insiders.

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.