Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,880 shares of the business services provider’s stock after selling 1,330 shares during the quarter. WASHINGTON TRUST Co owned about 0.05% of Broadridge Financial Solutions worth $13,538,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after purchasing an additional 51,439 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after purchasing an additional 15,208 shares during the period. Stifel Financial Corp grew its position in Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock valued at $342,856,000 after buying an additional 5,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after buying an additional 20,775 shares during the period. Finally, abrdn plc raised its position in shares of Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after buying an additional 27,869 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,666 shares of company stock worth $5,050,766. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $240.40 on Friday. The business’s 50-day moving average price is $232.49 and its two-hundred day moving average price is $222.53. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $244.47. The company has a market capitalization of $28.13 billion, a P/E ratio of 37.62 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the business earned $0.92 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

About Broadridge Financial Solutions

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.