Running Oak Capital LLC Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Running Oak Capital LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,290 shares of the business services provider’s stock after acquiring an additional 3,457 shares during the period. Broadridge Financial Solutions makes up 1.9% of Running Oak Capital LLC’s portfolio, making the stock its 15th biggest position. Running Oak Capital LLC owned approximately 0.06% of Broadridge Financial Solutions worth $14,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in Broadridge Financial Solutions by 1.0% in the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after purchasing an additional 51,439 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after buying an additional 15,208 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Broadridge Financial Solutions by 0.4% during the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock valued at $342,856,000 after buying an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after buying an additional 20,775 shares during the last quarter. Finally, abrdn plc increased its position in shares of Broadridge Financial Solutions by 5.5% during the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after acquiring an additional 27,869 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

BR opened at $237.48 on Friday. The company’s 50 day moving average is $230.15 and its 200 day moving average is $218.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 41.09 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $1.09 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Analyst Ratings Changes

Several brokerages have commented on BR. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $226.71.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company 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.