6,967 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Purchased by ING Groep NV

ING Groep NV purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,967 shares of the business services provider’s stock, valued at approximately $1,005,000.

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Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Broadridge Financial Solutions by 0.8% during the first quarter. Vanguard Group Inc. now owns 13,714,442 shares of the business services provider’s stock valued at $2,135,476,000 after buying an additional 108,223 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Broadridge Financial Solutions by 2.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,301,103 shares of the business services provider’s stock valued at $613,123,000 after purchasing an additional 104,464 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Broadridge Financial Solutions by 10.4% in the 2nd quarter. Parnassus Investments LLC now owns 1,460,419 shares of the business services provider’s stock valued at $208,183,000 after purchasing an additional 138,092 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Broadridge Financial Solutions by 86.6% in 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. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Broadridge Financial Solutions by 1,454.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,065,835 shares of the business services provider’s stock valued at $153,821,000 after purchasing an additional 997,275 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Thomas J. Perna sold 42,417 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $147.57, for a total value of $6,259,476.69. Following the sale, the director now owns 29,704 shares of the company’s stock, valued at approximately $4,383,419.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BR. Morgan Stanley began coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, December 14th. They issued an “equal weight” rating and a $160.00 price objective for the company. TheStreet raised shares of Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research report on Thursday, February 2nd. Raymond James increased their price objective on shares of Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Wolfe Research cut their price target on shares of Broadridge Financial Solutions from $137.00 to $135.00 in a report on Thursday, January 5th. Finally, DA Davidson cut their price target on shares of Broadridge Financial Solutions to $160.00 in a report on Thursday, October 27th.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $143.86 on Monday. The company has a market cap of $16.93 billion, a PE ratio of 32.11 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a twelve month low of $131.35 and a twelve month high of $183.33. The company’s 50 day moving average is $142.52 and its 200 day moving average is $150.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.30.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The business services provider reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Broadridge Financial Solutions had a net margin of 9.13% and a return on equity of 40.38%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.725 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 2.02%. Broadridge Financial Solutions’s payout ratio is 64.73%.

Broadridge Financial Solutions Company Profile

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Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.

Further Reading

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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