Principal Financial Group Inc. Boosts Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Principal Financial Group Inc. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 157,645 shares of the business services provider’s stock after purchasing an additional 6,552 shares during the period. Principal Financial Group Inc.’s holdings in Broadridge Financial Solutions were worth $33,898,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BR. NBC Securities Inc. lifted its position in shares of Broadridge Financial Solutions by 0.8% during the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after purchasing an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after buying an additional 50 shares in the last quarter. Garrison Asset Management LLC boosted its position in Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after buying an additional 50 shares during the last quarter. TIAA Trust National Association increased its position in shares of Broadridge Financial Solutions by 1.0% during the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 52 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Broadridge Financial Solutions by 2.5% in the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Christopher John Perry sold 31,539 shares of the firm’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 value of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,898 shares of company stock valued at $33,293,234. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $226.21 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 12-month low of $176.29 and a 12-month high of $228.06. The business’s fifty day moving average price is $214.56 and its 200 day moving average price is $207.28. The stock has a market capitalization of $26.44 billion, a PE ratio of 39.14 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $1.09 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised 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 report on Tuesday, August 20th. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $217.83.

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.