The Manufacturers Life Insurance Company Has $62.79 Million Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• The Manufacturers Life Insurance Company increased its Broadridge Financial Solutions stake by 481.9% in the first quarter, bringing its holdings to 386,435 shares valued at approximately $62.79 million. Institutional investors collectively own 90.03% of the company.
• Analyst sentiment remains positive but mixed: Broadridge has a “Moderate Buy” consensus rating and an average price target of $221.57, despite several recent target reductions.
• Broadridge reported quarterly EPS of $2.72, exceeding estimates, while revenue rose 7.8% year over year to $1.95 billion. The company also maintains a quarterly dividend of $0.975 per share, equivalent to a 2.4% yield.

The Manufacturers Life Insurance Company lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 481.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,435 shares of the business services provider's stock after acquiring an additional 320,022 shares during the period. The Manufacturers Life Insurance Company owned about 0.33% of Broadridge Financial Solutions worth $62,788,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. State Street Corp boosted its stake in Broadridge Financial Solutions by 6.7% in the 4th quarter. State Street Corp now owns 5,994,841 shares of the business services provider's stock worth $1,343,572,000 after purchasing an additional 375,699 shares during the period. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,354,869 shares of the business services provider's stock valued at $746,062,000 after purchasing an additional 12,524 shares during the period. Barclays PLC lifted its holdings in shares of Broadridge Financial Solutions by 1.8% in the fourth quarter. Barclays PLC now owns 2,007,968 shares of the business services provider's stock valued at $448,118,000 after purchasing an additional 35,169 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Broadridge Financial Solutions by 6.6% in the third quarter. Northern Trust Corp now owns 1,711,824 shares of the business services provider's stock valued at $407,705,000 after purchasing an additional 105,696 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $346,304,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insiders Place Their Bets

In other news, insider Hope M. Jarkowski sold 1,966 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares of the company's stock, valued at $155. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Broadridge Financial Solutions Trading Up 0.7%

Broadridge Financial Solutions stock opened at $159.35 on Thursday. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $271.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.97. The stock has a market cap of $18.43 billion, a P/E ratio of 17.06 and a beta of 0.89. The company's fifty day simple moving average is $146.63 and its 200-day simple moving average is $165.42.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.09. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.Broadridge Financial Solutions's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $2.44 earnings per share. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 9.55 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, June 12th. Broadridge Financial Solutions's dividend payout ratio is presently 41.76%.

Broadridge Financial Solutions 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.

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