Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Lowered by Truist Financial Corp

Truist Financial Corp decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.1% during the 4th quarter, HoldingsChannel reports. The firm owned 68,368 shares of the business services provider’s stock after selling 3,649 shares during the period. Truist Financial Corp’s holdings in Broadridge Financial Solutions were worth $14,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BR. OFI Invest Asset Management bought a new position in Broadridge Financial Solutions in the 3rd quarter worth about $25,000. Headinvest LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at approximately $32,000. First Command Advisory Services Inc. bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $34,000. Truvestments Capital LLC acquired a new position in Broadridge Financial Solutions during the 3rd quarter worth $37,000. Finally, BKM Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $193.43 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a market cap of $22.78 billion, a PE ratio of 33.70 and a beta of 0.99. The business has a fifty day simple moving average of $200.48 and a 200-day simple moving average of $194.94. Broadridge Financial Solutions, Inc. has a fifty-two week low of $143.95 and a fifty-two week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company posted $0.91 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BR. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Raymond James boosted their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $206.67.

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.