Broadridge Financial Solutions, Inc. $BR Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 387,023 shares of the business services provider’s stock after selling 10,579 shares during the quarter. Principal Financial Group Inc.’s holdings in Broadridge Financial Solutions were worth $92,177,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $580,000. Empowered Funds LLC raised its stake in Broadridge Financial Solutions by 41.5% during the first quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider’s stock valued at $959,000 after buying an additional 1,160 shares in the last quarter. Woodline Partners LP lifted its holdings in Broadridge Financial Solutions by 6.9% during the 1st quarter. Woodline Partners LP now owns 9,886 shares of the business services provider’s stock worth $2,397,000 after buying an additional 635 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Broadridge Financial Solutions by 480.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider’s stock worth $616,000 after buying an additional 2,106 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Broadridge Financial Solutions by 7.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,994 shares of the business services provider’s stock worth $3,887,000 after purchasing an additional 1,161 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $198.54 on Tuesday. Broadridge Financial Solutions, Inc. has a one year low of $193.06 and a one year high of $271.91. The company has a 50-day moving average of $221.49 and a two-hundred day moving average of $234.57. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 25.42 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 12th were given a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 29th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Morgan Stanley decreased their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. DA Davidson cut their target price on Broadridge Financial Solutions from $240.00 to $228.00 and set a “neutral” rating on the stock in a research note on Friday, January 23rd. Finally, UBS Group reduced their price target 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.60.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the transaction, the president owned 44,829 shares of the company’s stock, valued at $10,131,354. The trade was a 8.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $2,341,661.64. Following the completion of the transaction, the vice president owned 6,026 shares in the company, valued at $1,381,520.76. This represents a 62.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

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.