American Century Companies Inc. Purchases 85,463 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

American Century Companies Inc. grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 51.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,984 shares of the business services provider’s stock after acquiring an additional 85,463 shares during the period. American Century Companies Inc. owned about 0.22% of Broadridge Financial Solutions worth $57,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $104,466,000. Corient Private Wealth LLC boosted its holdings 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 worth $99,186,000 after acquiring an additional 392,695 shares during the period. Benjamin Edwards Inc. grew its position in shares of Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after purchasing an additional 140,886 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $25,773,000. Finally, BNP Paribas Financial Markets lifted its holdings in Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after purchasing an additional 98,275 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.6 %

Shares of BR opened at $238.29 on Thursday. The firm has a 50 day simple moving average of $236.66 and a two-hundred day simple moving average of $227.30. The company has a market cap of $27.88 billion, a P/E ratio of 37.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the company posted $0.92 earnings per share. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares in the company, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last quarter. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of several recent research reports. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $241.00.

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.