Candriam S.C.A. Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Candriam S.C.A. lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 29.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,378 shares of the business services provider’s stock after buying an additional 4,229 shares during the period. Candriam S.C.A.’s holdings in Broadridge Financial Solutions were worth $4,155,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. True Wealth Design LLC boosted its position in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Fortitude Family Office LLC boosted its position in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the third quarter worth about $39,000. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions in the fourth quarter worth about $41,000. Finally, Truvestments Capital LLC purchased a new position in Broadridge Financial Solutions in the third quarter worth about $45,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 1.5 %

NYSE BR opened at $241.30 on Friday. The stock’s 50-day moving average price is $235.35 and its 200-day moving average price is $225.40. The company has a market capitalization of $28.24 billion, a P/E ratio of 37.76 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,441 shares of company stock valued at $1,547,835. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on BR shares. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $239.17.

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.