Elo Mutual Pension Insurance Co Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Elo Mutual Pension Insurance Co boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,883 shares of the business services provider’s stock after buying an additional 1,385 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Broadridge Financial Solutions were worth $2,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BR. Thrivent Financial for Lutherans raised its holdings in Broadridge Financial Solutions by 24.5% during the third quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock valued at $1,335,000 after acquiring an additional 1,219 shares during the period. Great Valley Advisor Group Inc. bought a new stake in Broadridge Financial Solutions during the third quarter worth approximately $204,000. Cerity Partners LLC raised its position in Broadridge Financial Solutions by 58.1% during the third quarter. Cerity Partners LLC now owns 21,914 shares of the business services provider’s stock valued at $4,713,000 after purchasing an additional 8,051 shares during the period. Algert Global LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $542,000. Finally, Bank of Montreal Can boosted its holdings in shares of Broadridge Financial Solutions by 25.9% in the 3rd quarter. Bank of Montreal Can now owns 139,763 shares of the business services provider’s stock worth $29,634,000 after purchasing an additional 28,720 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $237.60 on Friday. The company has a market capitalization of $27.80 billion, a P/E ratio of 37.18 and a beta of 1.05. The company’s 50-day simple moving average is $236.97 and its two-hundred day simple moving average is $227.56. 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 (EPS) 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 period in the previous year, the company earned $0.92 EPS. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 1.48%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock worth $29,397,793 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BR shares. DA Davidson restated 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 increased their target price on shares of 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 lifted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $241.00.

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.