Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Tiaa Fsb

Posted by Defense World Staff on Jul 3rd, 2023

Tiaa Fsb lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 20.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,990 shares of the business services provider’s stock after selling 1,579 shares during the quarter. Tiaa Fsb’s holdings in Broadridge Financial Solutions were worth $878,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 131,997 shares in the last quarter. Morgan Stanley raised its holdings in Broadridge Financial Solutions by 41.0% in the fourth quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock valued at $944,766,000 after acquiring an additional 2,048,184 shares in the last quarter. State Street Corp raised its holdings in Broadridge Financial Solutions by 0.4% in the third quarter. State Street Corp now owns 4,654,571 shares of the business services provider’s stock valued at $675,108,000 after acquiring an additional 19,303 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Broadridge Financial Solutions by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,391,471 shares of the business services provider’s stock valued at $454,898,000 after acquiring an additional 25,752 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Broadridge Financial Solutions by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,481,795 shares of the business services provider’s stock valued at $332,358,000 after acquiring an additional 66,309 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $165.63 on Monday. The firm has a market capitalization of $19.54 billion, a P/E ratio of 35.54 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $131.35 and a 52 week 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’s 50 day moving average is $153.52 and its two-hundred day moving average is $146.07.

Broadridge Financial Solutions (NYSE:BR – Free Report) last announced its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.01 by $0.04. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 6.9 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.725 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 1.75%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 62.23%.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Leslie A. Brun sold 6,900 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $148.98, for a total transaction of $1,027,962.00. Following the transaction, the director now directly owns 59,916 shares in the company, valued at $8,926,285.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Robert Schifellite sold 15,695 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $152.59, for a total transaction of $2,394,900.05. Following the completion of the sale, the senior vice president now directly owns 50,314 shares of the company’s stock, valued at $7,677,413.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leslie A. Brun sold 6,900 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $148.98, for a total value of $1,027,962.00. Following the sale, the director now directly owns 59,916 shares of the company’s stock, valued at $8,926,285.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,397 shares of company stock worth $4,162,229. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Broadridge Financial Solutions in a report on Monday, April 24th. They issued an “outperform” rating and a $169.00 target price on the stock. StockNews.com started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.40.

Broadridge Financial Solutions 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.