Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by abrdn plc

abrdn plc raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 101.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,832 shares of the business services provider’s stock after purchasing an additional 45,341 shares during the quarter. abrdn plc’s holdings in Broadridge Financial Solutions were worth $18,483,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Jensen Investment Management Inc. raised its holdings in shares of Broadridge Financial Solutions by 2.4% in the 3rd quarter. Jensen Investment Management Inc. now owns 1,825,339 shares of the business services provider’s stock valued at $326,827,000 after buying an additional 43,235 shares during the period. Stifel Financial Corp grew its position in Broadridge Financial Solutions by 1,700.7% in the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after acquiring an additional 1,456,847 shares in the last quarter. Northern Trust Corp increased its stake in Broadridge Financial Solutions by 5.6% during the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock worth $236,879,000 after purchasing an additional 70,258 shares during the period. Bahl & Gaynor Inc. increased its stake in Broadridge Financial Solutions by 6.8% during the third quarter. Bahl & Gaynor Inc. now owns 1,068,205 shares of the business services provider’s stock worth $191,262,000 after purchasing an additional 68,260 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Broadridge Financial Solutions by 124.8% during the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after purchasing an additional 381,882 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, Raymond James upped their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.67.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $195.08 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The company has a fifty day simple moving average of $200.70 and a 200-day simple moving average of $194.45. The stock has a market cap of $22.97 billion, a P/E ratio of 33.99 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12-month low of $139.52 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. During the same period in the previous year, the business earned $0.91 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.