Focus Partners Wealth raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 49.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,963 shares of the business services provider’s stock after purchasing an additional 75,109 shares during the period. Focus Partners Wealth’s holdings in Broadridge Financial Solutions were worth $50,553,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. E6 Portfolios LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $448,000. Entropy Technologies LP acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $2,841,000. Barclays PLC increased its holdings in shares of Broadridge Financial Solutions by 1.8% during the 4th quarter. Barclays PLC now owns 2,007,968 shares of the business services provider’s stock valued at $448,118,000 after acquiring an additional 35,169 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC increased its holdings in shares of Broadridge Financial Solutions by 0.3% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,895 shares of the business services provider’s stock valued at $4,217,000 after acquiring an additional 62 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 9.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 124,953 shares of the business services provider’s stock valued at $27,891,000 after acquiring an additional 10,578 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.
Broadridge Financial Solutions Price Performance
Broadridge Financial Solutions stock opened at $142.66 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $16.50 billion, a PE ratio of 15.27 and a beta of 0.88. Broadridge Financial Solutions, Inc. has a one year low of $139.79 and a one year high of $271.91. The business has a 50 day simple moving average of $153.26 and a 200 day simple moving average of $183.89.
Broadridge Financial Solutions Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 41.76%.
Insider Activity at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the transaction, the insider owned 1 shares in the company, valued at approximately $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
BR has been the topic of a number of analyst reports. Needham & Company LLC lowered their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, May 1st. UBS Group lowered their price objective on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. DA Davidson lowered their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Royal Bank Of Canada lowered their price objective on Broadridge Financial Solutions from $245.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings lowered Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.57.
Check Out Our Latest Research Report on BR
About Broadridge Financial Solutions
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.
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