Fulton Bank N.A. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,042 shares of the business services provider’s stock after acquiring an additional 543 shares during the period. Fulton Bank N.A.’s holdings in Broadridge Financial Solutions were worth $408,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dark Forest Capital Management LP bought a new position in Broadridge Financial Solutions in the second quarter valued at about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $29,000. Lumature Wealth Partners LLC boosted its stake in shares of Broadridge Financial Solutions by 82.5% during the first quarter. Lumature Wealth Partners LLC now owns 365 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 165 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $53,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $54,000. Institutional investors own 86.45% of the company’s stock.
Broadridge Financial Solutions Trading Down 1.7 %
Shares of BR stock opened at $135.16 on Friday. The company has a market cap of $15.91 billion, a P/E ratio of 30.17 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a fifty-two week low of $131.35 and a fifty-two week high of $183.33. The stock has a 50 day simple moving average of $144.29 and a two-hundred day simple moving average of $146.04. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.26 and a current ratio of 1.26.
Broadridge Financial Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, March 14th. Broadridge Financial Solutions’s payout ratio is 64.73%.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 1,425 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $141.06, for a total transaction of $201,010.50. Following the transaction, the director now directly owns 6,275 shares in the company, valued at approximately $885,151.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wolfe Research cut their price target on Broadridge Financial Solutions from $137.00 to $135.00 in a research note on Thursday, January 5th. Raymond James lifted their price objective on Broadridge Financial Solutions from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. TheStreet raised Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. StockNews.com assumed coverage on Broadridge Financial Solutions in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Morgan Stanley assumed coverage on Broadridge Financial Solutions in a research note on Wednesday, December 14th. They issued an “equal weight” rating and a $160.00 price objective on the stock.
Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.
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