Sunburst Financial Group LLC Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sunburst Financial Group LLC raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,011 shares of the business services provider’s stock after purchasing an additional 46 shares during the quarter. Sunburst Financial Group LLC’s holdings in Broadridge Financial Solutions were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. State Street Corp increased its holdings in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after purchasing an additional 51,439 shares in the last quarter. Geode Capital Management LLC grew its position in Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after buying an additional 15,208 shares during the period. Stifel Financial Corp increased its holdings in Broadridge Financial Solutions by 0.4% in the third 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 raised its position in shares of Broadridge Financial Solutions by 2.3% in the third 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 worth $194,585,000 after acquiring an additional 20,775 shares during the period. Finally, abrdn plc boosted its stake 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 acquiring an additional 27,869 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $5,050,766 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target 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. DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of BR opened at $242.70 on Friday. The stock has a 50 day moving average price of $232.39 and a 200 day moving average price of $222.32. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $243.63. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 37.98 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued 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 yield of 1.45%. Broadridge Financial Solutions’s payout ratio is 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.