Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 37.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,701 shares of the business services provider’s stock after selling 1,008 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Broadridge Financial Solutions were worth $385,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC grew its position in shares of Broadridge Financial Solutions by 5.5% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 1,194 shares of the business services provider’s stock valued at $270,000 after purchasing an additional 62 shares during the period. Zions Bancorporation N.A. boosted its stake in Broadridge Financial Solutions by 51.9% in the 4th quarter. Zions Bancorporation N.A. now owns 11,645 shares of the business services provider’s stock worth $2,633,000 after buying an additional 3,979 shares during the last quarter. FineMark National Bank & Trust grew its holdings in Broadridge Financial Solutions by 1.9% in the 4th quarter. FineMark National Bank & Trust now owns 56,034 shares of the business services provider’s stock valued at $12,669,000 after buying an additional 1,035 shares during the period. Modern Wealth Management LLC increased its stake in shares of Broadridge Financial Solutions by 1.2% during the 4th quarter. Modern Wealth Management LLC now owns 13,649 shares of the business services provider’s stock valued at $3,308,000 after acquiring an additional 156 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC lifted its holdings in shares of Broadridge Financial Solutions by 0.4% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 34,140 shares of the business services provider’s stock worth $7,719,000 after acquiring an additional 130 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 in the last quarter. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. 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. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $241.00.

Broadridge Financial Solutions Trading Up 0.4 %

NYSE:BR opened at $239.12 on Friday. The business’s 50-day moving average is $236.82 and its two-hundred day moving average is $227.38. The firm has a market capitalization of $27.98 billion, a PE ratio of 37.42 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. 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 (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS 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 quarter last year, the firm posted $0.92 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio 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.