Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,114 shares of the business services provider’s stock after buying an additional 3,132 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Broadridge Financial Solutions were worth $4,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its position in shares of Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after buying an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Broadridge Financial Solutions by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares in the last quarter. Garrison Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after purchasing an additional 50 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after purchasing an additional 52 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its position in shares of Broadridge Financial Solutions by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 10,804 shares of the business services provider’s stock worth $2,128,000 after purchasing an additional 54 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BR shares. UBS Group assumed coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $222.43.

Broadridge Financial Solutions Trading Up 1.4 %

Shares of BR stock opened at $236.47 on Wednesday. Broadridge Financial Solutions, Inc. has a 1-year low of $185.41 and a 1-year high of $236.50. The firm’s 50-day simple moving average is $217.92 and its 200-day simple moving average is $209.55. The firm has a market cap of $27.64 billion, a P/E ratio of 40.91 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $1.09 EPS. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,294 shares of company stock worth $16,944,095 in the last three months. 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.