Elo Mutual Pension Insurance Co Purchases 54 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Elo Mutual Pension Insurance Co increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,804 shares of the business services provider’s stock after acquiring an additional 54 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Broadridge Financial Solutions were worth $2,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BR. New England Research & Management Inc. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter valued at about $1,465,000. Bank of Nova Scotia boosted its position in Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after buying an additional 70,263 shares during the period. UBS Group AG grew its holdings in 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 worth $38,361,000 after acquiring an additional 14,147 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after acquiring an additional 43,710 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after acquiring an additional 8,837 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Insider Buying and Selling

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

Broadridge Financial Solutions Stock Performance

BR stock opened at $208.99 on Friday. The firm has a market cap of $24.70 billion, a PE ratio of 35.66 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a 50-day moving average price of $210.29 and a 200-day moving average price of $203.28. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm posted $3.21 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

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.