Lansforsakringar Fondforvaltning AB publ Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 41,511 shares of the business services provider's stock, valued at approximately $9,385,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Adero Partners LLC lifted its stake in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock worth $415,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC raised its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after buying an additional 46 shares during the last quarter. Nicolet Advisory Services LLC raised its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock valued at $224,000 after buying an additional 46 shares during the last quarter. Advisors Capital Management LLC raised its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after buying an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after buying an additional 52 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $0.56 during mid-day trading on Monday, reaching $242.27. The stock had a trading volume of 583,905 shares, compared to its average volume of 524,111. The business's fifty day moving average is $235.97 and its 200-day moving average is $234.29. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 37.91 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. Broadridge Financial Solutions's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.23 earnings per share. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at approximately $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the transaction, the insider now owns 21,167 shares in the company, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,873 shares of company stock valued at $31,337,863 over the last ninety days. 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.