Robeco Institutional Asset Management B.V. Sells 8,360 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Posted by Defense World Staff on Aug 3rd, 2023

Robeco Institutional Asset Management B.V. decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 15.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,767 shares of the business services provider’s stock after selling 8,360 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Broadridge Financial Solutions were worth $6,562,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BR. American Century Companies Inc. lifted its position in shares of Broadridge Financial Solutions by 10.7% during the 1st quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock valued at $1,270,000 after buying an additional 788 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Broadridge Financial Solutions by 6.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock valued at $2,433,000 after purchasing an additional 992 shares during the period. Raymond James Trust N.A. raised its stake in Broadridge Financial Solutions by 126.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 1,888 shares during the period. Canada Pension Plan Investment Board raised its stake in Broadridge Financial Solutions by 1,851.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 500 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Broadridge Financial Solutions by 13.2% during the 1st quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock valued at $1,981,000 after purchasing an additional 1,487 shares during the period. Institutional investors own 89.05% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 4,052 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly 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 related news, Director Leslie A. Brun sold 6,900 shares of the company’s stock in a transaction on 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 sale, 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 available at the SEC website. Also, VP Laura Matlin sold 4,052 shares of the company’s stock in a transaction 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 sale, the vice president now owns 5,825 shares of the company’s stock, valued at $895,477.25. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Analysis on BR

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $166.69 on Thursday. The company has a market cap of $19.67 billion, a P/E ratio of 35.77 and a beta of 1.02. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50 day moving average price is $161.21 and its 200-day moving average price is $150.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $131.35 and a fifty-two week high of $183.33.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.04. Broadridge Financial Solutions had a return on equity of 40.29% and a net margin of 9.33%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $1.93 EPS. Broadridge Financial Solutions’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 6.9 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were issued a $0.725 dividend. This represents a $2.90 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is 62.23%.

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.