Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Boosted by Czech National Bank

Czech National Bank raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,774 shares of the business services provider’s stock after buying an additional 1,254 shares during the quarter. Czech National Bank’s holdings in Broadridge Financial Solutions were worth $5,112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in shares of Broadridge Financial Solutions by 21.9% in the third quarter. Handelsbanken Fonder AB now owns 38,061 shares of the business services provider’s stock valued at $8,184,000 after purchasing an additional 6,829 shares in the last quarter. Unique Wealth LLC raised its position in Broadridge Financial Solutions by 6.3% during the third quarter. Unique Wealth LLC now owns 1,604 shares of the business services provider’s stock valued at $345,000 after buying an additional 95 shares during the period. Centaurus Financial Inc. purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $1,216,000. Sanctuary Advisors LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $2,784,000. Finally, SRN Advisors LLC grew its stake in Broadridge Financial Solutions by 5.6% during the 2nd quarter. SRN Advisors LLC now owns 11,924 shares of the business services provider’s stock valued at $2,349,000 after acquiring an additional 630 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $220.74 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The company’s fifty day moving average is $212.02 and its 200-day moving average is $204.57. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 37.67 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion for 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 business’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $3.21 earnings per share. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Insider Activity

In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of research analyst reports. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $213.33.

Broadridge Financial Solutions Company 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.