Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 14,105 shares of the business services provider’s stock after selling 165 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Broadridge Financial Solutions were worth $3,193,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BR. SeaCrest Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth about $234,000. Park Avenue Securities LLC lifted its stake in Broadridge Financial Solutions by 37.3% during the 4th quarter. Park Avenue Securities LLC now owns 10,136 shares of the business services provider’s stock worth $2,292,000 after acquiring an additional 2,755 shares in the last quarter. Occidental Asset Management LLC lifted its stake in Broadridge Financial Solutions by 6.8% during the 4th quarter. Occidental Asset Management LLC now owns 19,276 shares of the business services provider’s stock worth $4,358,000 after acquiring an additional 1,223 shares in the last quarter. Avanza Fonder AB acquired a new position in Broadridge Financial Solutions during the 4th quarter worth about $1,675,000. Finally, Merit Financial Group LLC lifted its stake in Broadridge Financial Solutions by 33.2% during the 4th quarter. Merit Financial Group LLC now owns 7,863 shares of the business services provider’s stock worth $1,778,000 after acquiring an additional 1,959 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Trading Up 0.4%

BR opened at $241.32 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.01. The company has a market cap of $28.35 billion, a P/E ratio of 37.76 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50-day simple moving average is $234.22 and its 200-day simple moving average is $232.61.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business posted $2.23 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is currently 52.93%.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,068 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at $251,685.40. This trade represents a 49.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president now owns 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,473 shares of company stock worth $29,072,366. 1.30% of the stock is currently owned by insiders.

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.