Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Addenda Capital Inc.

Addenda Capital Inc. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,548 shares of the business services provider’s stock after purchasing an additional 5,209 shares during the period. Addenda Capital Inc.’s holdings in Broadridge Financial Solutions were worth $11,693,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BR. State Street Corp increased its stake in 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 worth $1,118,644,000 after buying an additional 51,439 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after buying an additional 15,208 shares during the last quarter. Stifel Financial Corp lifted 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 worth $342,856,000 after acquiring an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 purchasing an additional 20,775 shares during the period. Finally, abrdn plc boosted its holdings in shares of Broadridge Financial Solutions by 5.5% during the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after acquiring an additional 27,869 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BR shares. UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, DA Davidson raised their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $226.71.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $230.35 on Tuesday. The firm has a 50-day moving average price of $229.51 and a 200 day moving average price of $218.25. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The firm has a market capitalization of $26.93 billion, a PE ratio of 39.85 and a beta of 1.08. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Broadridge Financial Solutions Profile

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.