Allspring Global Investments Holdings LLC Purchases 926 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,418 shares of the business services provider’s stock after acquiring an additional 926 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Broadridge Financial Solutions were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BR. Procyon Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 2.3% during the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after purchasing an additional 52 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after buying an additional 52 shares in the last quarter. Optas LLC grew its position in shares of Broadridge Financial Solutions by 3.8% in the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after buying an additional 57 shares during the last quarter. Signaturefd LLC raised its stake in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after acquiring an additional 58 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $199.50 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a 50-day moving average of $198.37 and a two-hundred day moving average of $200.05. The stock has a market cap of $23.58 billion, a P/E ratio of 34.04 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a one year low of $161.85 and a one year high of $210.24.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last released its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm earned $2.05 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday, June 28th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Evercore ISI reissued an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $206.67.

Read Our Latest Report on Broadridge Financial Solutions

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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