Sei Investments Co. Purchases 20,982 Shares of Broadridge Financial Solutions, Inc. $BR

Sei Investments Co. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 34.2% during the first quarter, Holdings Channel reports. The institutional investor owned 82,393 shares of the business services provider’s stock after purchasing an additional 20,982 shares during the quarter. Sei Investments Co.’s holdings in Broadridge Financial Solutions were worth $13,385,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Walleye Capital LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $4,414,000. State of Wyoming raised its holdings in shares of Broadridge Financial Solutions by 14.8% in the first quarter. State of Wyoming now owns 706 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 91 shares during the last quarter. Southernsun Asset Management LLC raised its holdings in shares of Broadridge Financial Solutions by 1.0% in the first quarter. Southernsun Asset Management LLC now owns 45,254 shares of the business services provider’s stock valued at $7,353,000 after purchasing an additional 454 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Broadridge Financial Solutions by 3.0% in the first quarter. First Trust Advisors LP now owns 227,485 shares of the business services provider’s stock worth $36,962,000 after purchasing an additional 6,608 shares in the last quarter. Finally, Westpac Banking Corp boosted its holdings in Broadridge Financial Solutions by 173.1% during the first quarter. Westpac Banking Corp now owns 31,062 shares of the business services provider’s stock worth $5,047,000 after purchasing an additional 19,690 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BR. DA Davidson decreased their target price on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Needham & Company LLC cut their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. UBS Group reduced their price objective on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, June 22nd. Finally, Weiss Ratings downgraded Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.57.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $154.87 on Friday. The company has a market cap of $17.91 billion, a price-to-earnings ratio of 16.58 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $271.91. The company’s fifty day simple moving average is $146.73 and its 200 day simple moving average is $164.94. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.97.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.09. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $0.975 per share. The ex-dividend date was Friday, June 12th. This represents a $3.90 annualized dividend and a dividend yield of 2.5%. Broadridge Financial Solutions’s payout ratio is currently 41.76%.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,966 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares in the company, valued at approximately $155. This trade represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.