Credit Suisse AG Acquires 10,329 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Posted by Defense World Staff on Jun 8th, 2023

Credit Suisse AG boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 169,262 shares of the business services provider’s stock after buying an additional 10,329 shares during the period. Credit Suisse AG owned approximately 0.14% of Broadridge Financial Solutions worth $22,703,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Asset Dedication LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at $31,000. Thompson Siegel & Walmsley LLC lifted its stake in Broadridge Financial Solutions by 730.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 249 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 219 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $38,000. MV Capital Management Inc. increased its holdings in shares of Broadridge Financial Solutions by 33.0% during the 4th quarter. MV Capital Management Inc. now owns 290 shares of the business services provider’s stock worth $39,000 after acquiring an additional 72 shares during the last quarter. Finally, General Partner Inc. bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $45,000. Institutional investors own 86.45% of the company’s stock.

Insider Buying and Selling

In other news, VP Laura Matlin sold 4,052 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $153.73, for a total value of $622,913.96. Following the transaction, the vice president now owns 5,825 shares in the company, valued at approximately $895,477.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Richard John Stingi sold 750 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the completion of the transaction, the vice president now owns 4,202 shares in the company, valued at $652,444.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 4,052 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $153.73, for a total transaction of $622,913.96. Following the sale, the vice president now directly owns 5,825 shares in the company, valued at approximately $895,477.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,397 shares of company stock worth $4,162,229. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.2 %

Shares of BR stock opened at $153.94 on Thursday. Broadridge Financial Solutions, Inc. has a twelve month low of $131.35 and a twelve month high of $183.33. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $18.16 billion, a P/E ratio of 33.03 and a beta of 0.99. The stock’s fifty day simple moving average is $148.40 and its 200 day simple moving average is $144.50.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.04. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be given a $0.725 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.90 annualized dividend and a yield of 1.88%. Broadridge Financial Solutions’s payout ratio is 62.23%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BR. StockNews.com started coverage on Broadridge Financial Solutions in a report on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada started coverage on shares of Broadridge Financial Solutions in a research report on Monday, April 24th. They set an “outperform” rating and a $169.00 price target on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

Broadridge Financial Solutions Company 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.