Sienna Gestion Has $11.32 Million Stake in Broadridge Financial Solutions, Inc. $BR

Key Points

• Sienna Gestion reduced its stake in Broadridge Financial Solutions by 5.5% in the first quarter, owning 48,038 shares worth approximately $11.32 million as of the most recent SEC filing.
• Several institutional investors, including Tokio Marine Asset Management and National Pension Service, have increased their stakes in Broadridge during the same period, reflecting growing interest in the company.
• Broadridge recently announced a quarterly dividend increase to $0.975 per share, which represents a 1.5% yield, indicating strong financial performance and return of capital to shareholders.

Sienna Gestion lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,038 shares of the business services provider's stock after selling 2,805 shares during the quarter. Broadridge Financial Solutions makes up 0.9% of Sienna Gestion's investment portfolio, making the stock its 25th largest holding. Sienna Gestion's holdings in Broadridge Financial Solutions were worth $11,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BR. Price T Rowe Associates Inc. MD grew its stake in Broadridge Financial Solutions by 50.0% during the 4th 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 acquiring an additional 1,186,555 shares in the last quarter. GAMMA Investing LLC grew its stake in Broadridge Financial Solutions by 31,011.4% during the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock valued at $240,027,000 after acquiring an additional 986,782 shares in the last quarter. Vanguard Group Inc. grew its stake in Broadridge Financial Solutions by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after acquiring an additional 438,381 shares in the last quarter. Nuveen LLC purchased a new position in Broadridge Financial Solutions during the 1st quarter valued at about $91,445,000. Finally, Northern Trust Corp grew its stake in Broadridge Financial Solutions by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after acquiring an additional 314,323 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.24 during trading hours on Monday, reaching $260.36. 609,321 shares of the company were exchanged, compared to its average volume of 589,800. The firm has a market cap of $30.50 billion, a price-to-earnings ratio of 36.72 and a beta of 0.94. 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 stock has a 50-day moving average of $245.40 and a 200 day moving average of $239.81. Broadridge Financial Solutions, Inc. has a 12 month low of $206.95 and a 12 month high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter in the prior year, the business earned $3.50 earnings per share. The company's revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Broadridge Financial Solutions

In other news, Director Pamela L. Carter sold 4,829 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the transaction, the director directly owned 7,242 shares in the company, valued at $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 84,571 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the transaction, the chief executive officer owned 165,634 shares of the company's stock, valued at approximately $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,299 shares of company stock valued at $40,196,503. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Company 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.