Mufg Securities Americas Inc. Acquires New Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mufg Securities Americas Inc. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,726 shares of the business services provider's stock, valued at approximately $390,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Broadridge Financial Solutions by 50.0% during 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 buying an additional 1,186,555 shares during the period. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $106,904,000. Raymond James Financial Inc. bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $104,466,000. Corient Private Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after buying an additional 392,695 shares during the period. Finally, Northern Trust Corp grew its holdings 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 worth $362,825,000 after acquiring an additional 314,323 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company's stock, valued at $1,180,132.80. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. This trade represents a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,473 shares of company stock valued at $29,072,366. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on BR shares. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. 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. DA Davidson reiterated a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Trading Up 0.6%

NYSE:BR traded up $1.48 during trading hours on Monday, hitting $242.69. 435,408 shares of the stock were exchanged, compared to its average volume of 531,570. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $28.51 billion, a P/E ratio of 37.98 and a beta of 0.98. The company's 50 day moving average is $234.22 and its two-hundred day moving average is $232.90.

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

Broadridge Financial Solutions Dividend Announcement

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

About Broadridge Financial Solutions

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.