Mirabaud Asset Management Ltd Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mirabaud Asset Management Ltd lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,607 shares of the business services provider’s stock after purchasing an additional 629 shares during the quarter. Mirabaud Asset Management Ltd’s holdings in Broadridge Financial Solutions were worth $1,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BR. Adero Partners LLC lifted its position in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC grew its holdings in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 46 shares during the last quarter. Nicolet Advisory Services LLC increased its position in shares of Broadridge Financial Solutions by 4.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock valued at $224,000 after buying an additional 46 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 3.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $225.19 on Friday. The company has a market cap of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06. The business has a fifty day simple moving average of $237.48 and a 200-day simple moving average of $228.53. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating 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 business posted $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

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.