Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Broadridge Financial Solutions by 2.4%, acquiring an additional 39,846 shares, bringing its total ownership to approximately 1.44% of the company, valued at about $409.66 million.
• Broadridge Financial Solutions recently raised its quarterly dividend from $0.88 to $0.975 per share, with a yield of 1.5%, indicating a positive outlook for shareholder returns.
• Analysts have adjusted their price targets for Broadridge, with Needham increasing its target from $300 to $305 and Morgan Stanley from $222 to $261, reflecting confidence in the company's growth potential.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,689,607 shares of the business services provider's stock after buying an additional 39,846 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 1.44% of Broadridge Financial Solutions worth $409,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BR. Continuum Advisory LLC boosted its holdings in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after purchasing an additional 46 shares during the period. Norden Group LLC boosted its holdings in Broadridge Financial Solutions by 2.6% in the 1st quarter. Norden Group LLC now owns 1,852 shares of the business services provider's stock valued at $449,000 after purchasing an additional 47 shares during the period. Crew Capital Management Ltd. boosted its holdings in Broadridge Financial Solutions by 2.4% in the 1st quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider's stock valued at $490,000 after purchasing an additional 48 shares during the period. Advisors Capital Management LLC boosted its holdings in Broadridge Financial Solutions by 3.5% in the 4th quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after purchasing an additional 49 shares during the period. Finally, BSW Wealth Partners boosted its holdings in Broadridge Financial Solutions by 3.2% in the 1st quarter. BSW Wealth Partners now owns 1,686 shares of the business services provider's stock valued at $409,000 after purchasing an additional 52 shares during the period. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the transaction, the insider owned 21,167 shares in the company, valued at $5,070,554.85. This trade represents a 19.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president owned 6,077 shares in the company, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,048 shares of company stock worth $4,101,083 in the last 90 days. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on BR. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley increased their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $261.50.

Broadridge Financial Solutions Price Performance

Shares of BR traded down $0.29 during midday trading on Friday, reaching $266.19. The stock had a trading volume of 536,088 shares, compared to its average volume of 940,879. The company's 50-day moving average is $243.67 and its 200 day moving average is $238.95. Broadridge Financial Solutions, Inc. has a 12-month low of $206.29 and a 12-month high of $271.91. 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 market capitalization 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 issued its earnings results on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.50 EPS. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

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

About Broadridge Financial Solutions

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.