Ninety One North America Inc. Sells 385 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Ninety One North America Inc. lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,943 shares of the business services provider’s stock after selling 385 shares during the quarter. Ninety One North America Inc.’s holdings in Broadridge Financial Solutions were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BR. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $44,746,000. Assenagon Asset Management S.A. grew its position in shares of Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares during the period. Benjamin Edwards Inc. grew its position in shares of Broadridge Financial Solutions by 2,302.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after purchasing an additional 140,886 shares during the period. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $274,650,000. Finally, BNP Paribas Financial Markets boosted its position in Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after acquiring an additional 98,275 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BR shares. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $239.17.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Up 0.4 %

BR stock opened at $239.69 on Tuesday. The stock’s fifty day simple moving average is $231.37 and its two-hundred day simple moving average is $220.56. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $241.45. The stock has a market cap of $28.02 billion, a P/E ratio of 37.51 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 period in the previous year, the company earned $0.92 EPS. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.55 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a dividend of $0.88 per share. The ex-dividend date was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions’s payout ratio is 55.09%.

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.