1,859 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Purchased by Trust Point Inc.

Trust Point Inc. acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,859 shares of the business services provider's stock, valued at approximately $420,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. State Street Corp increased its stake in Broadridge Financial Solutions by 1.0% during the third 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 during the last quarter. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock worth $643,018,000 after acquiring an additional 15,208 shares during the period. Stifel Financial Corp lifted its stake in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after buying an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Broadridge Financial Solutions by 2.3% in the third 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 purchasing an additional 20,775 shares in the last quarter. Finally, abrdn plc increased its position in shares of Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider's stock valued at $114,451,000 after purchasing an additional 27,869 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BR shares. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $239.17.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $0.26 during trading hours on Friday, reaching $240.29. 321,250 shares of the stock were exchanged, compared to its average volume of 442,394. 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 twelve month low of $188.30 and a twelve month high of $242.39. The company has a market cap of $28.12 billion, a P/E ratio of 37.60 and a beta of 1.08. The stock has a 50 day moving average of $231.71 and a two-hundred day moving average of $221.46.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 last year, the business posted $0.92 EPS. Equities analysts expect 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. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 55.09%.

Insider Activity

In related news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares of the company's stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brett Keller sold 5,442 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,303 shares of company stock valued at $8,371,507. Insiders own 1.30% of the company's stock.

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.