SummitTX Capital L.P. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,153 shares of the business services provider’s stock, valued at approximately $1,325,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Strs Ohio boosted its position in shares of Broadridge Financial Solutions by 25.8% in the first quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock valued at $7,927,000 after acquiring an additional 9,996 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at about $4,211,000. UNIVEST FINANCIAL Corp bought a new position in Broadridge Financial Solutions in the first quarter valued at approximately $8,227,000. New Age Alpha Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 51.6% during the 4th quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider’s stock worth $8,237,000 after buying an additional 12,569 shares in the last quarter. Finally, Cvfg LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth about $2,463,000. 90.03% of the stock is owned by institutional investors.
Insider Buying and Selling at Broadridge Financial Solutions
In other news, insider Hope M. Jarkowski sold 1,966 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the sale, the insider owned 1 shares in the company, valued at $155. This trade represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Research Report on BR
Broadridge Financial Solutions Price Performance
Shares of NYSE:BR opened at $159.35 on Thursday. The company has a market capitalization of $18.43 billion, a P/E ratio of 17.06 and a beta of 0.89. The company’s 50-day moving average is $146.63 and its 200 day moving average is $165.42. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $271.91.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.09. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.90 billion. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.
Broadridge Financial Solutions Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 41.76%.
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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