Nomura Asset Management Co. Ltd. Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,555 shares of the business services provider’s stock after selling 942 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $7,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BR. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC grew 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 worth $35,000 after acquiring an additional 111 shares during the period. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $41,000. FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the third quarter worth about $39,000. Finally, Curio Wealth LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter worth about $45,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the 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 transaction, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Up 2.2 %

Shares of NYSE BR opened at $242.66 on Tuesday. The stock has a fifty day moving average price of $237.21 and a 200 day moving average price of $228.00. 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, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The company has a market cap of $28.40 billion, a P/E ratio of 37.98 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 last year, the company earned $0.92 earnings per share. 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 given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Analyst Ratings Changes

Several research analysts have recently weighed in on BR shares. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. 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 report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.