BNP Paribas Financial Markets Boosts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

BNP Paribas Financial Markets raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 97.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,878 shares of the business services provider’s stock after acquiring an additional 98,275 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.17% of Broadridge Financial Solutions worth $42,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bahl & Gaynor Inc. grew its holdings in Broadridge Financial Solutions by 0.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after purchasing an additional 6,634 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after acquiring an additional 72,018 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Broadridge Financial Solutions by 3.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock worth $157,741,000 after acquiring an additional 28,614 shares during the last quarter. abrdn plc raised its stake in Broadridge Financial Solutions by 5.5% in the 3rd 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. Finally, Raymond James & Associates lifted its holdings in Broadridge Financial Solutions by 1.3% during the second quarter. Raymond James & Associates now owns 404,049 shares of the business services provider’s stock valued at $79,598,000 after purchasing an additional 5,256 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. This represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,294 shares of company stock valued at $16,944,095. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BR shares. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $222.43.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of BR stock opened at $235.80 on Friday. The company has a market capitalization of $27.56 billion, a PE ratio of 40.80 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $186.19 and a 52-week high of $237.74. The business’s fifty day moving average is $218.97 and its 200 day moving average is $210.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Broadridge Financial Solutions Company 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.