KLP Kapitalforvaltning AS Invests $9.16 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

KLP Kapitalforvaltning AS purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, Holdings Channel reports. The fund purchased 40,400 shares of the business services provider’s stock, valued at approximately $9,164,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after acquiring an additional 51,439 shares during the period. Geode Capital Management LLC increased its holdings in Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after purchasing an additional 15,208 shares during the period. Stifel Financial Corp increased its holdings in Broadridge Financial Solutions by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after purchasing an additional 5,813 shares during the period. Bahl & Gaynor Inc. raised its position in Broadridge Financial Solutions by 2.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider’s stock valued at $255,442,000 after purchasing an additional 29,483 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after buying an additional 20,775 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.2 %

NYSE BR opened at $235.73 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company has a 50 day moving average price of $236.26 and a 200 day moving average price of $227.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.59 billion, a PE ratio of 36.89 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $0.92 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Analyst Ratings Changes

Several equities analysts have recently commented on BR shares. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. 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. Insiders own 1.30% of the company’s stock.

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.