ASR Vermogensbeheer N.V. Makes New $31.62 Million Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• ASR Vermogensbeheer N.V. acquired 130,435 shares of Broadridge Financial Solutions, valued at approximately $31.6 million, constituting 0.11% of the company at the end of the last reporting period.
• Broadridge recently declared a quarterly dividend of $0.975 per share, which will be paid on October 2nd, increasing from the previous dividend of $0.88.
• Broadridge's stock has shown strong performance, with a recent earnings report reflecting a 6.2% increase in revenue year-over-year, alongside a reported Earnings Per Share (EPS) of $3.55, surpassing analysts' expectations.

ASR Vermogensbeheer N.V. bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 130,435 shares of the business services provider's stock, valued at approximately $31,624,000. ASR Vermogensbeheer N.V. owned 0.11% of Broadridge Financial Solutions as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Broadridge Financial Solutions by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock worth $3,572,199,000 after buying an additional 438,381 shares in the last quarter. MGB Wealth Management LLC raised its position in shares of Broadridge Financial Solutions by 2.8% during the 1st quarter. MGB Wealth Management LLC now owns 3,877 shares of the business services provider's stock worth $936,000 after buying an additional 107 shares in the last quarter. Renasant Bank raised its position in shares of Broadridge Financial Solutions by 35.8% during the 1st quarter. Renasant Bank now owns 2,114 shares of the business services provider's stock worth $513,000 after buying an additional 557 shares in the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth about $222,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Broadridge Financial Solutions by 7.0% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,491 shares of the business services provider's stock worth $604,000 after buying an additional 162 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded down $0.29 during midday trading on Friday, reaching $266.19. The company's stock had a trading volume of 536,088 shares, compared to its average volume of 940,879. The company has a current ratio of 0.98, a quick ratio of 1.32 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $243.67 and a 200 day moving average price of $238.95. Broadridge Financial Solutions, Inc. has a one year low of $206.29 and a one year high of $271.91. The company has a market cap of $31.18 billion, a price-to-earnings ratio of 37.54 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $3.50 earnings per share. The firm's revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Thursday, September 11th. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. Broadridge Financial Solutions's payout ratio is presently 49.65%.

Analyst Ratings Changes

BR has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday. Needham & Company LLC boosted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $261.50.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider directly owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president directly owned 6,077 shares in the company, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,048 shares of company stock valued at $4,101,083. Company insiders own 1.30% of the company's stock.

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.