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Principal Financial Group Inc. Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Broadridge Financial Solutions logo with Computer and Technology background

Principal Financial Group Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 156.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,830 shares of the business services provider's stock after buying an additional 247,157 shares during the quarter. Principal Financial Group Inc. owned about 0.35% of Broadridge Financial Solutions worth $98,155,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BR. Vanguard Group Inc. boosted its holdings in Broadridge Financial Solutions by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after purchasing an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after purchasing an additional 43,533 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Broadridge Financial Solutions by 2.5% in the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock valued at $372,713,000 after purchasing an additional 40,506 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider owned 1,070 shares of the company's stock, valued at $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela L. Carter sold 4,829 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the sale, the director directly owned 7,242 shares of the company's stock, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on BR. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Finally, 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $250.83.

Get Our Latest Analysis on BR

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $3.08 during trading hours on Tuesday, reaching $237.48. The stock had a trading volume of 377,263 shares, compared to its average volume of 527,463. The stock's 50 day moving average is $239.47 and its 200 day moving average is $235.91. The firm has a market capitalization of $27.89 billion, a PE ratio of 35.71 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $198.71 and a twelve month high of $247.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

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.

See Also

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

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