Bessemer Group Inc. Sells 162 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Posted by on Jun 12th, 2023

Bessemer Group Inc. cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,169 shares of the business services provider’s stock after selling 162 shares during the quarter. Bessemer Group Inc.’s holdings in Broadridge Financial Solutions were worth $693,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of 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 valued at $186,122,000 after acquiring an additional 554,807 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of 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 valued at $149,408,000 after acquiring an additional 168,251 shares in the last quarter. First Trust Advisors LP boosted its position in Broadridge Financial Solutions by 30.1% in the fourth quarter. First Trust Advisors LP now owns 654,202 shares of the business services provider’s stock valued at $87,753,000 after buying an additional 151,540 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $20,277,000. Finally, Vanguard Group Inc. boosted its position in Broadridge Financial Solutions by 0.9% in the third quarter. Vanguard Group Inc. now owns 14,043,423 shares of the business services provider’s stock valued at $2,026,747,000 after buying an additional 131,997 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.2 %

Shares of BR traded up $0.32 during midday trading on Monday, reaching $154.16. The company had a trading volume of 110,688 shares, compared to its average volume of 589,200. Broadridge Financial Solutions, Inc. has a 1-year low of $131.35 and a 1-year high of $183.33. The stock has a market cap of $18.19 billion, a PE ratio of 33.01 and a beta of 0.99. The firm has a 50 day simple moving average of $148.72 and a 200-day simple moving average of $144.56. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 2.04.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.04. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.29% and a net margin of 9.33%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 62.23%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Leslie A. Brun sold 6,900 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $148.98, for a total transaction of $1,027,962.00. Following the completion of the transaction, the director now directly owns 59,916 shares in the company, valued at approximately $8,926,285.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Leslie A. Brun sold 6,900 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $148.98, for a total transaction of $1,027,962.00. Following the completion of the transaction, the director now directly owns 59,916 shares in the company, valued at approximately $8,926,285.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at approximately $652,444.54. The disclosure for this sale can be found here. Insiders sold 27,397 shares of company stock worth $4,162,229 in the last three months. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on BR shares. StockNews.com started coverage on Broadridge Financial Solutions in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Royal Bank of Canada started coverage on Broadridge Financial Solutions in a research report on Monday, April 24th. They issued an “outperform” rating and a $169.00 price objective on the stock. Two investment 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 currently has an average rating of “Moderate Buy” and an average target price of $161.40.

Broadridge Financial Solutions Profile

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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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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