Sompo Japan Nipponkoa Asset Management CO. LTD. Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

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Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,400 shares of the business services provider’s stock after purchasing an additional 420 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Broadridge Financial Solutions were worth $306,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Jensen Investment Management Inc. boosted its holdings in Broadridge Financial Solutions by 39.0% in the 2nd quarter. Jensen Investment Management Inc. now owns 1,171,813 shares of the business services provider’s stock worth $149,617,000 after acquiring an additional 328,656 shares during the period. Jacobsen Capital Management acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $775,000. Stephens Inc. AR acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $453,000. Amica Retiree Medical Trust acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $169,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Broadridge Financial Solutions by 12.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 35,184 shares of the business services provider’s stock valued at $4,582,000 after purchasing an additional 3,927 shares in the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.

Shares of BR traded up $1.55 during trading on Friday, reaching $128.22. The company’s stock had a trading volume of 534,000 shares, compared to its average volume of 736,500. The company has a fifty day moving average of $130.19 and a two-hundred day moving average of $116.99. Broadridge Financial Solutions, Inc. has a twelve month low of $91.34 and a twelve month high of $138.24. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.30.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.72. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $1.86 EPS. Broadridge Financial Solutions’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 5.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be given a dividend of $0.54 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 41.63%.

A number of equities analysts have issued reports on the company. Raymond James lowered Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. SunTrust Banks upped their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Friday, May 10th. DA Davidson lowered Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, ValuEngine lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $129.20.

In related news, VP Adam D. Amsterdam sold 20,880 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $128.92, for a total transaction of $2,691,849.60. Following the sale, the vice president now directly owns 20,365 shares of the company’s stock, valued at approximately $2,625,455.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy C. Gokey sold 37,737 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $126.48, for a total value of $4,772,975.76. Following the sale, the insider now directly owns 110,349 shares in the company, valued at $13,956,941.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,452 shares of company stock worth $29,731,399. Corporate insiders own 2.30% of the company’s stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

Further Reading: Retained Earnings

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

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