Broadridge Financial Solutions, Inc. $BR Shares Purchased by Swedbank AB

Swedbank AB raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,902 shares of the business services provider’s stock after acquiring an additional 2,828 shares during the quarter. Swedbank AB’s holdings in Broadridge Financial Solutions were worth $10,694,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in Broadridge Financial Solutions by 56.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock valued at $1,344,000 after buying an additional 1,987 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Broadridge Financial Solutions by 87.9% in the second quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider’s stock valued at $7,308,000 after acquiring an additional 14,067 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Broadridge Financial Solutions by 40.8% during the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock valued at $52,900,000 after acquiring an additional 63,798 shares during the period. Parkside Financial Bank & Trust raised its holdings in Broadridge Financial Solutions by 62.5% during the second quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock worth $167,000 after purchasing an additional 265 shares in the last quarter. Finally, Addenda Capital Inc. lifted its position in Broadridge Financial Solutions by 28.6% in the third quarter. Addenda Capital Inc. now owns 67,152 shares of the business services provider’s stock worth $16,049,000 after purchasing an additional 14,942 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.1%

NYSE:BR opened at $228.16 on Friday. The stock has a fifty day simple moving average of $226.83 and a 200 day simple moving average of $238.90. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 29.21 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The company had revenue of $1.05 billion during the quarter. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 49.94%.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 3,984 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the sale, the president owned 44,829 shares of the company’s stock, valued at $10,131,354. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas P. Carey sold 10,214 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total value of $2,341,661.64. Following the transaction, the vice president directly owned 6,026 shares in the company, valued at $1,381,520.76. The trade was a 62.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday, December 22nd. DA Davidson reissued a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, UBS Group lowered their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.