Norges Bank bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,551,748 shares of the business services provider’s stock, valued at approximately $346,304,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Patton Fund Management Inc. boosted its stake in shares of Broadridge Financial Solutions by 5.3% in the 4th quarter. Patton Fund Management Inc. now owns 974 shares of the business services provider’s stock worth $217,000 after buying an additional 49 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 994 shares of the business services provider’s stock worth $242,000 after buying an additional 50 shares during the last quarter. Modern Wealth Management LLC boosted its stake in shares of Broadridge Financial Solutions by 0.4% in the 3rd quarter. Modern Wealth Management LLC now owns 14,175 shares of the business services provider’s stock worth $3,376,000 after buying an additional 55 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 3.9% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 1,608 shares of the business services provider’s stock worth $383,000 after buying an additional 61 shares during the last quarter. Finally, WPG Advisers LLC boosted its stake in shares of Broadridge Financial Solutions by 77.5% in the 4th quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently commented on the company. DA Davidson dropped their price objective on 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 dropped their price objective 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. Royal Bank Of Canada dropped their price objective on 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. Wall Street Zen downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Needham & Company LLC dropped their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Four equities 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.57.
Insider Buying and Selling at Broadridge Financial Solutions
In other news, CEO Timothy C. Gokey purchased 5,300 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $194.49 per share, with a total value of $1,030,797.00. Following the completion of the acquisition, the chief executive officer owned 142,876 shares in the company, valued at $27,787,953.24. This trade represents a 3.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.
Broadridge Financial Solutions Trading Up 4.0%
Broadridge Financial Solutions stock opened at $159.87 on Tuesday. The stock has a market cap of $18.49 billion, a P/E ratio of 17.12 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a fifty-two week low of $139.79 and a fifty-two week high of $271.91. The firm’s fifty day moving average price is $156.18 and its 200-day moving average price is $189.32. 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 (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, topping the consensus estimate of $2.63 by $0.09. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.410-9.580 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.
Broadridge Financial Solutions Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.90 annualized dividend and a dividend yield of 2.4%. Broadridge Financial Solutions’s dividend payout ratio is presently 41.76%.
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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