EULAV Asset Management raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 186.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 86,000 shares of the business services provider’s stock after purchasing an additional 56,000 shares during the period. EULAV Asset Management’s holdings in Broadridge Financial Solutions were worth $19,193,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patton Fund Management Inc. grew its stake in 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 acquiring an additional 49 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in 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 acquiring an additional 50 shares in the last quarter. Modern Wealth Management LLC grew its stake in 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 acquiring an additional 55 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in 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 acquiring an additional 61 shares in the last quarter. Finally, WPG Advisers LLC grew its stake in 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 acquiring an additional 62 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.
Broadridge Financial Solutions Price Performance
NYSE BR opened at $151.49 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. The firm’s 50 day moving average price is $154.98 and its 200-day moving average price is $187.56. Broadridge Financial Solutions, Inc. has a 52-week low of $139.79 and a 52-week high of $271.91. The company has a market cap of $17.52 billion, a PE ratio of 16.22 and a beta of 0.88.
Broadridge Financial Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, June 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.6%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 41.76%.
Insider Activity
In other news, insider Hope M. Jarkowski sold 1,966 shares of the 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 transaction, the insider directly owned 1 shares in the company, valued at approximately $155. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on BR. Weiss Ratings downgraded shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Needham & Company LLC dropped their target price on shares of 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. UBS Group dropped 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 research note on Monday, May 4th. Finally, DA Davidson dropped their target price 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. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.57.
Check Out Our Latest Research Report on BR
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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