Goldman Sachs Group Inc. Has $97.12 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Goldman Sachs Group Inc. increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,031 shares of the business services provider’s stock after buying an additional 86,853 shares during the period. Goldman Sachs Group Inc.’s holdings in Broadridge Financial Solutions were worth $97,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stifel Financial Corp boosted its position in Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after acquiring an additional 323,051 shares during the period. Northern Trust Corp lifted its position in Broadridge Financial Solutions by 5.6% during the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock worth $236,879,000 after purchasing an additional 70,258 shares during the period. Bahl & Gaynor Inc. lifted its position in Broadridge Financial Solutions by 1.3% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock worth $222,665,000 after purchasing an additional 14,005 shares during the period. Finally, Veritas Investment Partners UK Ltd. lifted its position in Broadridge Financial Solutions by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after purchasing an additional 147,293 shares during the period. 90.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Evercore ISI reissued an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $206.67.

Get Our Latest Report on BR

Insider Buying and Selling at Broadridge Financial Solutions

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

Broadridge Financial Solutions Trading Down 0.1 %

Shares of Broadridge Financial Solutions stock traded down $0.28 on Friday, hitting $195.13. The stock had a trading volume of 289,934 shares, compared to its average volume of 564,623. The stock has a 50 day moving average of $197.87 and a 200 day moving average of $199.49. Broadridge Financial Solutions, Inc. has a twelve month low of $156.26 and a twelve month high of $210.24. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $23.06 billion, a P/E ratio of 33.30 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company earned $2.05 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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