Truist Financial Corp Sells 5,948 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Truist Financial Corp reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BRGet Rating) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,414 shares of the business services provider’s stock after selling 5,948 shares during the quarter. Truist Financial Corp’s holdings in Broadridge Financial Solutions were worth $13,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Broadridge Financial Solutions by 86.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock valued at $186,122,000 after purchasing an additional 554,807 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Broadridge Financial Solutions by 60.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 613,831 shares of the business services provider’s stock valued at $87,502,000 after purchasing an additional 230,501 shares in the last quarter. Parnassus Investments LLC lifted its holdings in shares of Broadridge Financial Solutions by 10.4% during the second quarter. Parnassus Investments LLC now owns 1,460,419 shares of the business services provider’s stock valued at $208,183,000 after purchasing an additional 138,092 shares in the last quarter. Veritas Investment Partners UK Ltd. lifted its holdings in shares of Broadridge Financial Solutions by 15.8% during the second quarter. Veritas Investment Partners UK Ltd. now owns 969,616 shares of the business services provider’s stock valued at $138,306,000 after purchasing an additional 132,114 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Broadridge Financial Solutions by 0.8% during the first quarter. Vanguard Group Inc. now owns 13,714,442 shares of the business services provider’s stock valued at $2,135,476,000 after purchasing an additional 108,223 shares in the last quarter. 86.45% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $137.10 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.13. The business has a 50-day simple moving average of $140.45 and a two-hundred day simple moving average of $151.18. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 31.16 and a beta of 0.93. Broadridge Financial Solutions, Inc. has a 52 week low of $131.35 and a 52 week high of $183.33.

Broadridge Financial Solutions (NYSE:BRGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The business services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Broadridge Financial Solutions had a return on equity of 39.99% and a net margin of 9.01%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 6.93 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 5th. Investors of record on Thursday, December 15th were given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 65.91%.

Insider Buying and Selling

In related news, Director Thomas J. Perna sold 42,417 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $147.57, for a total transaction of $6,259,476.69. Following the completion of the sale, the director now owns 29,704 shares in the company, valued at $4,383,419.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BR shares. Wolfe Research lowered their price target on Broadridge Financial Solutions from $137.00 to $135.00 in a report on Thursday. Raymond James lowered their target price on Broadridge Financial Solutions from $189.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. DA Davidson lowered their target price on Broadridge Financial Solutions to $160.00 in a report on Thursday, October 27th. StockNews.com began coverage on Broadridge Financial Solutions in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, TheStreet downgraded Broadridge Financial Solutions from a “b” rating to a “c+” rating in a report on Wednesday, November 2nd.

Broadridge Financial Solutions Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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