National Pension Service Buys 1,308 Shares of Broadridge Financial Solutions, Inc. $BR

National Pension Service grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 171,777 shares of the business services provider’s stock after buying an additional 1,308 shares during the period. National Pension Service’s holdings in Broadridge Financial Solutions were worth $41,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Broadridge Financial Solutions by 56.1% during the second quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock valued at $1,344,000 after purchasing an additional 1,987 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Broadridge Financial Solutions by 40.8% in the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after buying an additional 63,798 shares in the last quarter. Triangle Securities Wealth Management bought a new position in Broadridge Financial Solutions during the second quarter valued at approximately $784,000. Parkside Financial Bank & Trust boosted its stake in Broadridge Financial Solutions by 62.5% during the second quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock valued at $167,000 after buying an additional 265 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its holdings in Broadridge Financial Solutions by 13.1% during the 2nd quarter. Achmea Investment Management B.V. now owns 5,880 shares of the business services provider’s stock valued at $1,429,000 after buying an additional 682 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.1%

NYSE BR opened at $225.92 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average of $233.79 and a two-hundred day moving average of $241.28. The firm has a market capitalization of $26.37 billion, a price-to-earnings ratio of 28.93 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 52 week low of $212.33 and a 52 week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 49.94%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the transaction, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BR has been the topic of several recent research reports. UBS Group decreased their price objective on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Needham & Company LLC lifted their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $259.83.

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.