Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Boosted by abrdn plc

abrdn plc increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 536,083 shares of the business services provider’s stock after purchasing an additional 27,869 shares during the quarter. abrdn plc owned approximately 0.45% of Broadridge Financial Solutions worth $114,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BR. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BR. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $213.33.

Broadridge Financial Solutions Stock Down 0.2 %

Shares of BR stock opened at $213.70 on Tuesday. The stock’s 50 day simple moving average is $213.41 and its 200 day simple moving average is $205.75. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a twelve month low of $167.84 and a twelve month high of $224.32. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 36.47 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business earned $3.21 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last three months. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.