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Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Boosted by JPMorgan Chase & Co.

Broadridge Financial Solutions logo with Computer and Technology background

Key Points

  • JPMorgan Chase & Co. increased its holdings in Broadridge Financial Solutions by 24.1%, acquiring a total of 617,715 shares valued at approximately $149.77 million.
  • Broadridge Financial Solutions recently increased its quarterly dividend from $0.88 to $0.975 per share, representing a yield of 1.5%.
  • Analysts have given a consensus rating of "Hold" with a price target of $261.50, while several firms have issued new buy ratings and raised their price objectives for the stock.
  • Looking to export and analyze Broadridge Financial Solutions data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

JPMorgan Chase & Co. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 24.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 617,715 shares of the business services provider's stock after acquiring an additional 119,964 shares during the period. JPMorgan Chase & Co. owned 0.53% of Broadridge Financial Solutions worth $149,771,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. bought a new position in shares of Broadridge Financial Solutions during the first quarter worth about $217,000. CWA Asset Management Group LLC lifted its holdings in Broadridge Financial Solutions by 6.8% in the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after purchasing an additional 87 shares during the period. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter worth about $29,000. Sequoia Financial Advisors LLC lifted its holdings in Broadridge Financial Solutions by 9.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock worth $279,000 after purchasing an additional 101 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Broadridge Financial Solutions by 12.3% in the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock worth $159,000 after purchasing an additional 72 shares during the period. Institutional investors own 90.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BR shares. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Morgan Stanley upped their price objective 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, August 6th. Finally, Needham & Company LLC upped their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $261.50.

View Our Latest Report on Broadridge Financial Solutions

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director directly owned 30,892 shares of the company's stock, valued at $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,477 shares of company stock valued at $5,093,784 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $259.14 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $206.95 and a twelve month high of $271.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $30.35 billion, a price-to-earnings ratio of 36.55 and a beta of 0.94. The firm has a 50-day moving average of $245.10 and a two-hundred day moving average of $239.62.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 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 company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. The business's quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. 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%. The ex-dividend date of this dividend is Thursday, September 11th. Broadridge Financial Solutions's payout ratio is currently 49.65%.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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