Natixis Raises Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Natixis raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9,913.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,203 shares of the business services provider’s stock after buying an additional 2,181 shares during the period. Natixis’ holdings in Broadridge Financial Solutions were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Broadridge Financial Solutions by 14.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 134,426 shares of the business services provider’s stock worth $27,539,000 after buying an additional 17,242 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Broadridge Financial Solutions by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 7,012 shares of the business services provider’s stock valued at $1,436,000 after acquiring an additional 109 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Broadridge Financial Solutions by 383.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 6,030 shares of the business services provider’s stock worth $1,235,000 after purchasing an additional 4,783 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in Broadridge Financial Solutions by 3.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock worth $324,000 after purchasing an additional 55 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Broadridge Financial Solutions by 43.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,175 shares of the business services provider’s stock worth $2,699,000 after purchasing an additional 3,973 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $239.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Trading Up 2.2 %

Shares of BR opened at $212.72 on Friday. The firm has a market cap of $25.14 billion, a P/E ratio of 36.30 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $164.99 and a 1 year high of $213.24. The company has a 50 day simple moving average of $200.77 and a two-hundred day simple moving average of $200.60.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a $0.80 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% 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.