Broadridge Financial Solutions, Inc. (NYSE:BR) Position Lessened by Sienna Gestion

Sienna Gestion trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 48,038 shares of the business services provider’s stock after selling 2,805 shares during the period. Broadridge Financial Solutions comprises about 0.9% of Sienna Gestion’s portfolio, making the stock its 25th biggest holding. Sienna Gestion’s holdings in Broadridge Financial Solutions were worth $11,322,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Broadridge Financial Solutions by 14.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,939 shares of the business services provider’s stock valued at $955,000 after purchasing an additional 494 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its stake in Broadridge Financial Solutions by 47.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the business services provider’s stock worth $93,000 after purchasing an additional 124 shares during the period. National Pension Service lifted its stake in Broadridge Financial Solutions by 8.4% during the first quarter. National Pension Service now owns 170,469 shares of the business services provider’s stock worth $41,332,000 after purchasing an additional 13,255 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Broadridge Financial Solutions by 65.3% in the first quarter. Russell Investments Group Ltd. now owns 125,879 shares of the business services provider’s stock valued at $30,463,000 after acquiring an additional 49,744 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 117 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC boosted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $261.50.

Insider Buying and Selling

In other news, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares in the company, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maura A. Markus sold 3,556 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director owned 30,892 shares of the company’s stock, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,477 shares of company stock worth $5,093,784 over the last three months. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $261.50 on Thursday. Broadridge Financial Solutions, Inc. has a 52 week low of $206.29 and a 52 week high of $271.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $30.63 billion, a P/E ratio of 36.88 and a beta of 0.94. The company has a 50 day moving average price of $244.81 and a 200 day moving average price of $239.49.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company posted $3.50 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 49.65%.

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.