Elo Mutual Pension Insurance Co Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Elo Mutual Pension Insurance Co raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.2% in the fourth quarter, Holdings Channel reports. The fund owned 11,883 shares of the business services provider’s stock after buying an additional 1,385 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Broadridge Financial Solutions were worth $2,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock worth $3,231,904,000 after buying an additional 74,674 shares during the last quarter. State Street Corp raised its holdings in shares of Broadridge Financial Solutions by 1.0% in the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after purchasing an additional 51,439 shares in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 15,208 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock worth $378,175,000 after purchasing an additional 43,533 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of 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 buying an additional 5,813 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last three months. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $237.60 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The business’s fifty day moving average price is $236.97 and its two-hundred day moving average price is $227.56. The firm has a market capitalization of $27.80 billion, a PE ratio of 37.18 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its 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 last year, the company earned $0.92 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective 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. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $241.00.

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.