Broadridge Financial Solutions, Inc. (NYSE:BR) Position Increased by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 33.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,224 shares of the business services provider's stock after purchasing an additional 18,225 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Broadridge Financial Solutions worth $16,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BR. Qsemble Capital Management LP acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at $1,412,000. Atria Investments Inc boosted its holdings in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider's stock valued at $6,373,000 after acquiring an additional 2,610 shares during the period. Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at $483,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Broadridge Financial Solutions by 53.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider's stock valued at $2,434,000 after acquiring an additional 3,753 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider's stock valued at $550,000 after acquiring an additional 1,204 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BR shares. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded down $1.14 during midday trading on Friday, hitting $235.16. The company's stock had a trading volume of 142,441 shares, compared to its average volume of 455,063. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock's 50-day moving average price is $232.75 and its 200-day moving average price is $223.18. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The company has a market capitalization of $27.52 billion, a PE ratio of 36.79 and a beta of 1.08.

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 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the firm earned $0.92 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 514 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company's stock, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,666 shares of company stock worth $5,050,766. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Company 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.