Asset Management One Co. Ltd. Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Posted by Defense World Staff on Jul 13th, 2023

Asset Management One Co. Ltd. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,842 shares of the business services provider’s stock after acquiring an additional 2,257 shares during the period. Asset Management One Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $7,892,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Money Concepts Capital Corp grew its stake in Broadridge Financial Solutions by 400.0% during the fourth quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. Carl Stuart Investment Advisor Inc. bought a new position in Broadridge Financial Solutions during the first quarter valued at $14,755,342,000. Resurgent Financial Advisors LLC bought a new position in Broadridge Financial Solutions during the fourth quarter valued at $27,000. Asset Dedication LLC bought a new position in Broadridge Financial Solutions during the fourth quarter valued at $31,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in Broadridge Financial Solutions by 730.0% during the fourth 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. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada assumed 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 objective for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.40.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $166.51 on Thursday. The firm has a 50-day moving average price of $156.28 and a 200-day moving average price of $147.55. The firm has a market capitalization of $19.64 billion, a PE ratio of 35.73 and a beta of 1.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 2.04. Broadridge Financial Solutions, Inc. has a 12-month low of $131.35 and a 12-month high of $183.33.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its earnings results on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.04. The firm had revenue of $1.65 billion during 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 business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $1.93 EPS. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 6.9 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were given a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 62.23%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Richard John Stingi sold 750 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the transaction, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $652,444.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Richard John Stingi sold 750 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the transaction, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $652,444.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laura Matlin sold 4,052 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $153.73, for a total transaction of $622,913.96. Following the completion of the transaction, 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. In the last quarter, insiders have sold 27,397 shares of company stock valued at $4,162,229. Company insiders own 1.60% of the company’s stock.

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.