abrdn plc Sells 33,179 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

abrdn plc reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,904 shares of the business services provider’s stock after selling 33,179 shares during the quarter. abrdn plc’s holdings in Broadridge Financial Solutions were worth $113,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Broadridge Financial Solutions in the third quarter worth about $44,746,000. Assenagon Asset Management S.A. raised its holdings in Broadridge Financial Solutions by 3,197.8% in the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after purchasing an additional 140,886 shares in the last quarter. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions in the third quarter worth about $274,650,000. Finally, BNP Paribas Financial Markets raised its holdings in Broadridge Financial Solutions by 97.7% in the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after purchasing an additional 98,275 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BR shares. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group upped 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. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $238.72 on Tuesday. The business’s 50 day moving average price is $231.37 and its 200 day moving average price is $220.56. The firm has a market cap of $27.90 billion, a P/E ratio of 37.36 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $241.45. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $0.92 EPS. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

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.