Vision Capital Management Inc. cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,553 shares of the business services provider's stock after selling 11,858 shares during the quarter. Broadridge Financial Solutions comprises about 1.2% of Vision Capital Management Inc.'s investment portfolio, making the stock its 19th largest position. Vision Capital Management Inc.'s holdings in Broadridge Financial Solutions were worth $8,490,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Broadridge Financial Solutions during the third quarter worth $44,746,000. Assenagon Asset Management S.A. boosted its position in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider's stock worth $43,945,000 after acquiring an additional 198,169 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider's stock valued at $31,618,000 after acquiring an additional 140,886 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at about $274,650,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider's stock worth $42,765,000 after acquiring an additional 98,275 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.
Insider Buying and Selling
In related news, VP Laura Matlin sold 514 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Brett Keller sold 5,442 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,303 shares of company stock valued at $8,371,507 over the last ninety days. 1.30% of the stock is owned by insiders.
Analyst Ratings Changes
Several brokerages have weighed in on BR. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. DA Davidson restated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Morgan Stanley increased their price target on 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. Finally, Royal Bank of Canada boosted their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average price target of $239.17.
Get Our Latest Research Report on BR
Broadridge Financial Solutions Trading Up 0.1 %
Shares of NYSE:BR traded up $0.26 during midday trading on Friday, reaching $240.29. The company's stock had a trading volume of 321,250 shares, compared to its average volume of 442,394. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $242.39. The firm has a market capitalization of $28.12 billion, a price-to-earnings ratio of 37.60 and a beta of 1.08. The firm has a 50 day moving average price of $231.71 and a two-hundred day moving average price of $221.46. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35.
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, beating analysts' consensus estimates 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 quarter in the prior year, the business earned $0.92 earnings per share. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.
Broadridge Financial Solutions Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's payout ratio is 55.09%.
Broadridge Financial Solutions Company Profile
(
Free Report)
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
Before you consider Broadridge Financial Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadridge Financial Solutions wasn't on the list.
While Broadridge Financial Solutions currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
