Fayez Sarofim & Co Has $202.38 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fayez Sarofim & Co grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 895,107 shares of the business services provider's stock after buying an additional 21,540 shares during the quarter. Fayez Sarofim & Co owned 0.76% of Broadridge Financial Solutions worth $202,375,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. 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 during the 4th quarter worth approximately $41,000. Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $45,000. Salem Investment Counselors Inc. lifted its holdings in Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after buying an additional 150 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at about $52,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the company's stock in a transaction on Friday, March 7th. The stock was 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. This represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares of the company's stock, valued at $1,595,043.20. The trade was 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 worth $29,397,793 over the last 90 days. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on BR. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. DA Davidson restated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. 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 research note on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Morgan Stanley upped 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of Broadridge Financial Solutions stock traded down $0.32 during midday trading on Friday, hitting $237.81. The company's stock had a trading volume of 350,801 shares, compared to its average volume of 524,006. The stock has a 50-day simple moving average of $234.53 and a 200-day simple moving average of $230.65. The firm has a market capitalization of $27.83 billion, a P/E ratio of 37.22 and a beta of 1.06. 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, Inc. has a 1-year low of $188.30 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued 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 net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company posted $0.92 earnings per share. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 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.