Handelsbanken Fonder AB Boosts Holdings in Broadridge Financial Solutions, Inc. $BR

Handelsbanken Fonder AB boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 27.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,113 shares of the business services provider’s stock after acquiring an additional 10,133 shares during the period. Handelsbanken Fonder AB’s holdings in Broadridge Financial Solutions were worth $11,450,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BR. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Broadridge Financial Solutions during the 2nd quarter valued at $4,389,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $562,000. Ensign Peak Advisors Inc increased its stake in Broadridge Financial Solutions by 2.2% in the second quarter. Ensign Peak Advisors Inc now owns 46,741 shares of the business services provider’s stock valued at $11,359,000 after purchasing an additional 1,020 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Broadridge Financial Solutions by 3.6% during the second quarter. TD Waterhouse Canada Inc. now owns 1,457 shares of the business services provider’s stock worth $357,000 after buying an additional 50 shares during the period. Finally, Wealthspire Advisors LLC grew its holdings in Broadridge Financial Solutions by 6.0% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $258,000 after buying an additional 60 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $228.34 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. Broadridge Financial Solutions, Inc. has a 1 year low of $212.33 and a 1 year high of $271.91. The firm’s 50-day simple moving average is $231.17 and its 200-day simple moving average is $241.06. The firm has a market cap of $26.65 billion, a PE ratio of 29.24 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is currently 49.94%.

Analyst Upgrades and Downgrades

BR has been the topic of several research analyst reports. UBS Group decreased their target price on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Needham & Company LLC raised their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. DA Davidson reissued a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $259.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the transaction, the president directly owned 44,829 shares in the company, valued at $10,131,354. The trade was a 8.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

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.