Broadridge Financial Solutions, Inc. $BR Stock Position Decreased by Ninety One UK Ltd

Ninety One UK Ltd lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 99.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,681 shares of the business services provider’s stock after selling 255,354 shares during the quarter. Ninety One UK Ltd’s holdings in Broadridge Financial Solutions were worth $639,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BR. Vanguard Group Inc. boosted its stake 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 boosted its position in Broadridge Financial Solutions by 0.6% during the second quarter. State Street Corp now owns 5,642,154 shares of the business services provider’s stock worth $1,376,006,000 after purchasing an additional 35,061 shares during the period. Geode Capital Management LLC grew its holdings in Broadridge Financial Solutions by 4.3% during the second quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider’s stock valued at $797,031,000 after purchasing an additional 136,386 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Broadridge Financial Solutions by 3.6% during the second 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 purchasing an additional 61,659 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Broadridge Financial Solutions by 2.5% in the second quarter. Invesco Ltd. now owns 1,466,774 shares of the business services provider’s stock valued at $356,470,000 after purchasing an additional 36,355 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

BR stock opened at $223.27 on Friday. The stock has a 50-day moving average price of $226.25 and a two-hundred day moving average price of $238.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The stock has a market cap of $26.06 billion, a PE ratio of 28.59 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.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Equities 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 declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a $0.975 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is 49.94%.

Insider Activity

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

Analysts Set New Price Targets

Several research firms recently weighed in on BR. Morgan Stanley cut 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 report on Wednesday, November 5th. UBS Group cut their price objective on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. DA Davidson reaffirmed 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 raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday. Three research 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, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price 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.