Meiji Yasuda Asset Management Co Ltd. Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Meiji Yasuda Asset Management Co Ltd. trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 37.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,701 shares of the business services provider’s stock after selling 1,008 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Broadridge Financial Solutions were worth $385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. True Wealth Design LLC raised its position in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the last quarter. Fortitude Family Office LLC increased its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $39,000. Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Truvestments Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter worth about $45,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $239.12 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58. The firm’s fifty day simple moving average is $236.82 and its 200-day simple moving average is $227.38. The stock has a market cap of $27.98 billion, a PE ratio of 37.42 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the firm earned $0.92 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on BR shares. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $241.00.

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.