South Dakota Investment Council purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) during the first quarter, HoldingsChannel.com reports. The firm purchased 4,700 shares of the business services provider’s stock, valued at approximately $764,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $580,000. Empowered Funds LLC increased its stake in shares of Broadridge Financial Solutions by 41.5% in the 1st quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider’s stock valued at $959,000 after acquiring an additional 1,160 shares during the last quarter. Woodline Partners LP increased its stake in shares of Broadridge Financial Solutions by 6.9% in the 1st quarter. Woodline Partners LP now owns 9,886 shares of the business services provider’s stock valued at $2,397,000 after acquiring an additional 635 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Broadridge Financial Solutions by 480.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider’s stock valued at $616,000 after acquiring an additional 2,106 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Broadridge Financial Solutions by 8.5% in the 2nd quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider’s stock valued at $6,203,000 after acquiring an additional 2,004 shares during the period. 90.03% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on BR shares. DA Davidson reduced their price objective 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. UBS Group cut 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 report on Monday, May 4th. Needham & Company LLC decreased their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, June 22nd. Finally, Weiss Ratings cut Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.57.
Insiders Place Their Bets
In related news, insider Hope M. Jarkowski sold 1,966 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the transaction, the insider directly owned 1 shares of the company’s stock, valued at approximately $155. This represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Broadridge Financial Solutions Stock Performance
Shares of BR stock opened at $154.02 on Friday. 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 52 week low of $133.83 and a 52 week high of $271.91. The company’s 50 day moving average price is $146.80 and its two-hundred day moving average price is $164.86. The company has a market capitalization of $17.81 billion, a P/E ratio of 16.49 and a beta of 0.89.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.09. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.
Broadridge Financial Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, June 12th. Broadridge Financial Solutions’s 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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