Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 33.3% during the third quarter, Holdings Channel.com reports. The firm owned 50,842 shares of the business services provider’s stock after buying an additional 12,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Broadridge Financial Solutions were worth $12,109,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $580,000. Empowered Funds LLC boosted its holdings in shares of Broadridge Financial Solutions by 41.5% in the first quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider’s stock valued at $959,000 after acquiring an additional 1,160 shares in the last quarter. Woodline Partners LP increased its stake in shares of Broadridge Financial Solutions by 6.9% during the first quarter. Woodline Partners LP now owns 9,886 shares of the business services provider’s stock valued at $2,397,000 after acquiring an additional 635 shares during the period. Acadian Asset Management LLC increased its stake in shares of Broadridge Financial Solutions by 480.8% during the first quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider’s stock valued at $616,000 after acquiring an additional 2,106 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Broadridge Financial Solutions by 112.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,110 shares of the business services provider’s stock worth $270,000 after purchasing an additional 587 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.
Broadridge Financial Solutions Price Performance
NYSE BR opened at $218.83 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a 1 year low of $212.33 and a 1 year high of $271.91. The company has a market cap of $25.54 billion, a PE ratio of 28.02 and a beta of 0.99. The stock’s 50-day moving average price is $225.80 and its two-hundred day moving average price is $237.12.
Broadridge Financial Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 12th were given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, December 12th. Broadridge Financial Solutions’s payout ratio is presently 49.94%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. DA Davidson reaffirmed a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday, December 29th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group cut their price target on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Finally, Morgan Stanley reduced their price objective on shares of 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. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $259.83.
Read Our Latest Report on Broadridge Financial Solutions
Insider Buying and Selling at Broadridge Financial Solutions
In other news, President Christopher John Perry sold 3,984 shares of the 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 in the company, valued at $10,131,354. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 10,214 shares of the firm’s stock in a transaction on 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 directly owned 6,026 shares of the company’s stock, valued at approximately $1,381,520.76. This trade represents a 62.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.
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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