Pictet Asset Management Holding SA increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 151.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,722 shares of the business services provider’s stock after buying an additional 99,150 shares during the quarter. Pictet Asset Management Holding SA owned 0.14% of Broadridge Financial Solutions worth $26,767,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. Reflection Asset Management bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $25,000. Nemes Rush Group LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $27,000. Prosperity Bancshares Inc acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $28,000. WPG Advisers LLC increased its stake in Broadridge Financial Solutions by 77.5% in the fourth quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 62 shares during the period. Finally, DV Equities LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at about $37,000. 90.03% of the stock is currently owned by institutional investors.
Broadridge Financial Solutions Stock Performance
BR stock opened at $140.93 on Thursday. The company has a 50 day moving average price of $148.21 and a 200 day moving average price of $176.27. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $271.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $16.30 billion, a PE ratio of 15.09 and a beta of 0.89.
Broadridge Financial Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, June 12th. Broadridge Financial Solutions’s payout ratio is currently 41.76%.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at approximately $155. This represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on BR. Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. UBS Group decreased their price target on 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. 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. Weiss Ratings lowered Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, DA Davidson cut their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $221.57.
Get Our Latest Stock Report on Broadridge Financial Solutions
Broadridge Financial Solutions 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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