Generali Asset Management SPA SGR Buys 4,608 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Generali Asset Management SPA SGR increased its stake in Broadridge Financial Solutions by 61.3%, acquiring an additional 4,608 shares, bringing its total holdings to 12,129 shares valued at approximately $2.95 million.
• Broadridge Financial Solutions' CEO sold 84,571 shares for about $21.95 million, reducing his stake by 33.80%, while insiders collectively sold 147,532 shares worth $38.42 million in the last quarter.
• Broadridge Financial Solutions declared an increased quarterly dividend of $0.975 per share, up from $0.88, showcasing its strong financial position with a 1.7% yield.

Generali Asset Management SPA SGR increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 61.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,129 shares of the business services provider's stock after acquiring an additional 4,608 shares during the quarter. Generali Asset Management SPA SGR's holdings in Broadridge Financial Solutions were worth $2,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Partners LLC boosted its stake in Broadridge Financial Solutions by 360.0% during the second quarter. ORG Partners LLC now owns 115 shares of the business services provider's stock worth $28,000 after buying an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the first quarter worth $29,000. Continuum Advisory LLC boosted its stake in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after buying an additional 46 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock worth $35,000 after buying an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the first quarter worth $36,000. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

BR has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. UBS Group lifted 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 note on Friday, August 8th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and a consensus target price of $261.50.

Insider Activity

In related news, CEO Timothy C. Gokey sold 84,571 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the transaction, the chief executive officer owned 165,634 shares in the company, valued at $42,986,992.02. This represents a 33.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the transaction, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,532 shares of company stock worth $38,417,208. 1.10% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Down 2.3%

Shares of NYSE:BR opened at $226.09 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $208.20 and a 52 week high of $271.91. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The company's fifty day moving average is $247.63 and its 200-day moving average is $242.31. The company has a market capitalization of $26.39 billion, a PE ratio of 31.89 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a dividend of $0.975 per share. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions's dividend payout ratio is currently 55.01%.

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.

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