Royal London Asset Management Ltd. Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Royal London Asset Management Ltd. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,356 shares of the business services provider’s stock after purchasing an additional 7,051 shares during the period. Royal London Asset Management Ltd. owned about 0.09% of Broadridge Financial Solutions worth $23,142,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC increased its stake in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the 3rd quarter valued at approximately $39,000. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $41,000. Finally, Truvestments Capital LLC purchased a new position in Broadridge Financial Solutions during the third quarter worth $45,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BR has been the subject of several recent research reports. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. raised their price target 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. DA Davidson reissued a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group raised their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $239.17.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $233.03 on Friday. The company has a market cap of $27.27 billion, a P/E ratio of 36.47 and a beta of 1.05. 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, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The business has a fifty day simple moving average of $236.05 and a 200-day simple moving average of $226.62.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Broadridge Financial Solutions Company 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.