Meiji Yasuda Asset Management Co Ltd. Purchases 157 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,031 shares of the business services provider’s stock after purchasing an additional 157 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Broadridge Financial Solutions were worth $400,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in Broadridge Financial Solutions by 206.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock valued at $412,000 after purchasing an additional 134,911 shares in the last quarter. Norges Bank purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $67,605,000. UBS Group AG grew its stake in shares of Broadridge Financial Solutions by 8.2% during the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after acquiring an additional 14,147 shares during the period. CreativeOne Wealth LLC increased its holdings in Broadridge Financial Solutions by 10.8% in the 4th quarter. CreativeOne Wealth LLC now owns 1,270 shares of the business services provider’s stock worth $261,000 after acquiring an additional 124 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Broadridge Financial Solutions by 27.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the business services provider’s stock worth $110,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in the last ninety days. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BR shares. JPMorgan Chase & Co. upped their target price 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. DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $208.22 on Friday. The stock has a market capitalization of $24.61 billion, a P/E ratio of 35.53 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The firm has a fifty day simple moving average of $210.46 and a two-hundred day simple moving average of $203.36.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company earned $3.21 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

About Broadridge Financial Solutions

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.