Principal Financial Group Inc. Decreases Stake in Broadridge Financial Solutions, Inc. $BR

Principal Financial Group Inc. lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,023 shares of the business services provider’s stock after selling 10,579 shares during the period. Principal Financial Group Inc. owned about 0.33% of Broadridge Financial Solutions worth $92,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Broadridge Financial Solutions by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,031,420 shares of the business services provider’s stock worth $3,653,086,000 after acquiring an additional 298,273 shares in the last quarter. State Street Corp lifted its position in shares of Broadridge Financial Solutions by 0.6% during the 2nd quarter. State Street Corp now owns 5,642,154 shares of the business services provider’s stock worth $1,376,006,000 after buying an additional 35,061 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Broadridge Financial Solutions by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider’s stock worth $797,031,000 after buying an additional 136,386 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Broadridge Financial Solutions by 3.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,751,266 shares of the business services provider’s stock valued at $425,610,000 after buying an additional 61,659 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Broadridge Financial Solutions by 2.5% in the 2nd quarter. Invesco Ltd. now owns 1,466,774 shares of the business services provider’s stock valued at $356,470,000 after buying an additional 36,355 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $198.54 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.93. The business’s fifty day moving average price is $221.49 and its two-hundred day moving average price is $234.57. The stock has a market cap of $23.18 billion, a PE ratio of 25.42 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a one year low of $193.06 and a one year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.32. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 12th were issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio is 49.94%.

Analyst Upgrades and Downgrades

BR has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 29th. 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. UBS Group cut their target price on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. DA Davidson lowered their price target on Broadridge Financial Solutions from $240.00 to $228.00 and set a “neutral” rating on the stock in a report on Friday, January 23rd. Finally, Morgan Stanley reduced their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.60.

Insider Transactions at Broadridge Financial Solutions

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

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.