Truist Financial Corp Boosts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Truist Financial Corp boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,224 shares of the business services provider’s stock after purchasing an additional 18,225 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Broadridge Financial Solutions worth $16,329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BR. Bogart Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of NYSE BR opened at $238.82 on Thursday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $244.47. The company has a market cap of $27.95 billion, a P/E ratio of 37.37 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average price of $232.75 and a 200 day moving average price of $223.09.

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

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed 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 is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on BR shares. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $239.17.

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.