abrdn plc Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

abrdn plc lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 101.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,832 shares of the business services provider's stock after buying an additional 45,341 shares during the quarter. abrdn plc owned approximately 0.08% of Broadridge Financial Solutions worth $18,483,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BR. Nordea Investment Management AB raised its position in shares of Broadridge Financial Solutions by 680.1% during the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider's stock valued at $17,584,000 after buying an additional 74,387 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $227,750,000. Crown Oak Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $7,032,000. Comerica Bank purchased a new position in Broadridge Financial Solutions in the third quarter worth about $8,116,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $1,089,000. Institutional investors own 90.03% of the company's stock.

Insider Activity

In other news, VP Thomas P. Carey sold 12,731 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company's stock, valued at approximately $2,674,169.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert N. Duelks sold 830 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares of the company's stock, valued at $1,097,603.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,483 shares of company stock worth $9,745,637. Corporate insiders own 1.60% of the company's stock.

Broadridge Financial Solutions Trading Up 0.2 %

Broadridge Financial Solutions stock traded up $0.40 during trading hours on Thursday, hitting $195.48. The company had a trading volume of 257,488 shares, compared to its average volume of 504,285. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $23.02 billion, a P/E ratio of 34.07 and a beta of 0.99. The company has a 50-day moving average price of $200.68 and a two-hundred day moving average price of $194.45. Broadridge Financial Solutions, Inc. has a 1 year low of $139.52 and a 1 year high of $210.24.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $0.91 EPS. Broadridge Financial Solutions's revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. Broadridge Financial Solutions's payout ratio is presently 55.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BR. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. Raymond James boosted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Evercore ISI reiterated an "outperform" rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, DA Davidson reissued a "neutral" rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $206.67.

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.