Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 262,159 shares of the business services provider’s stock after selling 3,281 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Broadridge Financial Solutions were worth $59,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after acquiring an additional 51,439 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after purchasing an additional 15,208 shares during the period. Stifel Financial Corp increased its stake in Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after purchasing an additional 5,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after buying an additional 20,775 shares during the period. Finally, abrdn plc lifted its stake in Broadridge Financial Solutions by 5.5% during the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after buying an additional 27,869 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BR. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $239.17.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares of the company’s stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,666 shares of company stock valued at $5,050,766. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR opened at $240.29 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $242.39. The stock has a fifty day moving average price of $231.71 and a 200 day moving average price of $221.59. The stock has a market cap of $28.12 billion, a price-to-earnings ratio of 37.60 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business posted $0.92 earnings per share. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.