Whittier Trust Co. of Nevada Inc. Has $104,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Posted by Defense World Staff on Apr 7th, 2023

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 18.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 776 shares of the business services provider’s stock after acquiring an additional 123 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Broadridge Financial Solutions were worth $104,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of BR. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Broadridge Financial Solutions by 1,454.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,065,835 shares of the business services provider’s stock worth $153,821,000 after purchasing an additional 997,275 shares during the period. TD Asset Management Inc. grew its position in Broadridge Financial Solutions by 470.9% during the third quarter. TD Asset Management Inc. now owns 784,831 shares of the business services provider’s stock worth $115,292,000 after buying an additional 647,363 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Broadridge Financial Solutions by 86.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock worth $186,122,000 after buying an additional 554,807 shares in the last quarter. Bahl & Gaynor Inc. grew its position in Broadridge Financial Solutions by 19.4% during the third quarter. Bahl & Gaynor Inc. now owns 1,035,250 shares of the business services provider’s stock worth $149,408,000 after buying an additional 168,251 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth approximately $20,277,000. Institutional investors own 86.45% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 1,425 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $141.06, for a total transaction 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 SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Up 0.2 %

NYSE BR opened at $141.20 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.30. Broadridge Financial Solutions, Inc. has a twelve month low of $131.35 and a twelve month high of $183.33. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 31.52 and a beta of 1.00. The business’s fifty day moving average is $143.13 and its 200 day moving average is $143.33.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The business services provider reported $0.91 earnings per share 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 for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $0.83 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th were given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 64.73%.

Analyst Ratings Changes

A number of brokerages have weighed in on BR. TheStreet raised Broadridge Financial Solutions from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. Morgan Stanley began coverage on Broadridge Financial Solutions in a report on Wednesday, December 14th. They issued an “equal weight” rating and a $160.00 target price on the stock. StockNews.com began coverage on Broadridge Financial Solutions in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Raymond James raised their target price on Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Finally, Wolfe Research reduced their target price on Broadridge Financial Solutions from $137.00 to $135.00 in a report on Thursday, January 5th.

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.