Mitsubishi UFJ Trust & Banking Corp Sells 22,235 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,419 shares of the business services provider’s stock after selling 22,235 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Broadridge Financial Solutions worth $15,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in Broadridge Financial Solutions by 24.5% during the third quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock valued at $1,335,000 after purchasing an additional 1,219 shares during the period. Great Valley Advisor Group Inc. bought a new position in shares of Broadridge Financial Solutions during the third quarter worth $204,000. Cerity Partners LLC grew its holdings in shares of Broadridge Financial Solutions by 58.1% in the 3rd quarter. Cerity Partners LLC now owns 21,914 shares of the business services provider’s stock valued at $4,713,000 after buying an additional 8,051 shares during the period. Algert Global LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $542,000. Finally, Bank of Montreal Can raised its stake in Broadridge Financial Solutions by 25.9% during the 3rd quarter. Bank of Montreal Can now owns 139,763 shares of the business services provider’s stock worth $29,634,000 after buying an additional 28,720 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.5 %

NYSE BR opened at $237.60 on Friday. The company has a market cap of $27.80 billion, a PE ratio of 37.18 and a beta of 1.05. The stock has a 50 day moving average of $236.97 and a 200-day moving average of $227.56. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 firm posted $0.92 EPS. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson restated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $241.00.

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.