Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Lifted by CX Institutional

CX Institutional lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,471 shares of the business services provider’s stock after buying an additional 66 shares during the quarter. CX Institutional’s holdings in Broadridge Financial Solutions were worth $333,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its position in shares of Broadridge Financial Solutions by 1.0% in the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after buying an additional 51,439 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after buying an additional 15,208 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after buying an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Broadridge Financial Solutions by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after buying an additional 20,775 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of Broadridge Financial Solutions by 5.5% in the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after acquiring an additional 27,869 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 in the last quarter. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BR shares. UBS Group started coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $226.71.

Broadridge Financial Solutions Stock Up 0.3 %

Broadridge Financial Solutions stock opened at $237.48 on Monday. The stock has a market cap of $27.76 billion, a price-to-earnings ratio of 41.09 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $230.15 and its two-hundred day moving average price is $219.23. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.