SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,000 shares of the business services provider’s stock, valued at approximately $1,364,000.
Several other large investors have also added to or reduced their stakes in BR. Brighton Jones LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at about $580,000. Empowered Funds LLC grew its holdings in Broadridge Financial Solutions by 41.5% during the first quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider’s stock worth $959,000 after acquiring an additional 1,160 shares during the period. Woodline Partners LP grew its holdings in Broadridge Financial Solutions by 6.9% during the first quarter. Woodline Partners LP now owns 9,886 shares of the business services provider’s stock worth $2,397,000 after acquiring an additional 635 shares during the period. Acadian Asset Management LLC boosted its position in Broadridge Financial Solutions by 480.8% during the first quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider’s stock worth $616,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Broadridge Financial Solutions by 8.5% during the second quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider’s stock worth $6,203,000 after purchasing an additional 2,004 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Broadridge Financial Solutions Price Performance
BR stock opened at $149.61 on Friday. The business has a fifty day moving average of $156.90 and a two-hundred day moving average of $190.25. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.97. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 16.02 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a 52-week low of $139.79 and a 52-week high of $271.91.
Broadridge Financial Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.90 annualized dividend and a yield of 2.6%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 41.76%.
Wall Street Analysts Forecast Growth
BR has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Needham & Company LLC lowered their price target on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Broadridge Financial Solutions from $273.00 to $229.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. DA Davidson lowered their price target on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, UBS Group lowered their price target on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.57.
View Our Latest Research Report on Broadridge Financial Solutions
Insider Transactions at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, CEO Timothy C. Gokey bought 5,300 shares of the business’s stock in a transaction on Friday, March 6th. The stock was bought at an average price of $194.49 per share, with a total value of $1,030,797.00. Following the completion of the purchase, the chief executive officer directly owned 142,876 shares in the company, valued at $27,787,953.24. The trade was a 3.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.
Broadridge Financial Solutions Company Profile
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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