Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Bank of New York Mellon Corp

Posted by Defense World Staff on Mar 18th, 2023

Bank of New York Mellon Corp increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,134,711 shares of the business services provider’s stock after acquiring an additional 7,333 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of Broadridge Financial Solutions worth $163,760,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fiduciary Planning LLC lifted its stake in shares of Broadridge Financial Solutions by 21.6% in the second quarter. Fiduciary Planning LLC now owns 7,385 shares of the business services provider’s stock worth $1,053,000 after acquiring an additional 1,313 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Broadridge Financial Solutions by 1.5% in the third quarter. Nordea Investment Management AB now owns 7,110 shares of the business services provider’s stock worth $1,051,000 after acquiring an additional 102 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $15,313,000. AlphaCrest Capital Management LLC raised its stake in Broadridge Financial Solutions by 34.4% during the second quarter. AlphaCrest Capital Management LLC now owns 9,062 shares of the business services provider’s stock valued at $1,292,000 after buying an additional 2,319 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in Broadridge Financial Solutions by 17.7% during the third quarter. Raymond James Trust N.A. now owns 4,171 shares of the business services provider’s stock valued at $602,000 after buying an additional 628 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.7 %

NYSE:BR opened at $135.16 on Friday. The firm has a market capitalization of $15.91 billion, a PE ratio of 30.17 and a beta of 0.97. The stock has a 50 day moving average of $144.33 and a 200-day moving average of $146.30. Broadridge Financial Solutions, Inc. has a 52 week low of $131.35 and a 52 week high of $183.33. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.30.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last posted its earnings results on Thursday, February 2nd. The business services provider reported $0.91 EPS for the quarter, meeting the consensus estimate of $0.91. Broadridge Financial Solutions had a return on equity of 40.38% and a net margin of 9.13%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be issued a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 64.73%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com assumed coverage on Broadridge Financial Solutions in a research note on Thursday. They set a “hold” rating on the stock. Morgan Stanley assumed coverage on Broadridge Financial Solutions in a research note on Wednesday, December 14th. They set an “equal weight” rating and a $160.00 price objective on the stock. Raymond James upped their price objective on Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. TheStreet upgraded Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. Finally, Wolfe Research cut their price objective on Broadridge Financial Solutions from $137.00 to $135.00 in a research note on Thursday, January 5th.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 1,425 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $141.06, for a total value of $201,010.50. Following the completion of the transaction, the director now directly owns 6,275 shares of the company’s stock, valued at approximately $885,151.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Profile

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Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.