Commerzbank Aktiengesellschaft FI bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 4,772 shares of the business services provider’s stock, valued at approximately $1,065,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Broadridge Financial Solutions by 2,597.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 148,186 shares of the business services provider’s stock valued at $33,071,000 after acquiring an additional 142,692 shares during the period. Independent Advisor Alliance raised its stake in shares of Broadridge Financial Solutions by 1.9% in the fourth quarter. Independent Advisor Alliance now owns 17,996 shares of the business services provider’s stock valued at $4,016,000 after acquiring an additional 332 shares during the period. World Investment Advisors raised its stake in shares of Broadridge Financial Solutions by 115.2% in the fourth quarter. World Investment Advisors now owns 5,098 shares of the business services provider’s stock valued at $1,110,000 after acquiring an additional 2,729 shares during the period. Argos Wealth Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $432,000. Finally, AG2R LA Mondiale Gestion D Actifs raised its stake in shares of Broadridge Financial Solutions by 6.3% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 5,093 shares of the business services provider’s stock valued at $1,137,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Broadridge Financial Solutions Trading Up 1.6%
BR stock opened at $145.69 on Friday. The company has a market capitalization of $16.85 billion, a PE ratio of 15.60 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a 12 month low of $139.79 and a 12 month high of $271.91. The firm’s 50-day moving average is $163.20 and its 200 day moving average is $195.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94.
Broadridge Financial Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Monday, March 16th were issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, March 16th. Broadridge Financial Solutions’s dividend payout ratio is presently 41.76%.
Insider Transactions at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, CEO Timothy C. Gokey bought 5,300 shares of the company’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $194.49 per share, for a total transaction of $1,030,797.00. Following the acquisition, the chief executive officer directly owned 142,876 shares in the company, valued at approximately $27,787,953.24. The trade was a 3.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada reduced their target price on shares of Broadridge Financial Solutions from $245.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. DA Davidson reduced their price target on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their price target on shares of Broadridge Financial Solutions from $273.00 to $229.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $257.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, February 3rd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.57.
Get Our Latest Stock Report on Broadridge Financial Solutions
About Broadridge Financial Solutions
Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.
Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.
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