Broadridge Financial Solutions: Institutional Investors Increase Stake in Company

1832 Asset Management L.P. Increases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

In a recent filing with the Securities and Exchange Commission (SEC), 1832 Asset Management L.P. disclosed that it has raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.0% during the 4th quarter. The institutional investor now owns 5,004 shares of the business services provider’s stock, with a value of $1,030,000.

This move by 1832 Asset Management L.P. is part of a trend among large investors who have been either increasing or decreasing their stakes in Broadridge Financial Solutions. Nordea Investment Management AB, for example, lifted its holdings by 680.1% in the fourth quarter, while International Assets Investment Management LLC purchased a new position worth $227,750,000. Bank of Nova Scotia and Crown Oak Advisors LLC also made significant moves in their holdings of Broadridge Financial Solutions.

Wall Street analysts have been closely monitoring the stock, with several providing their insights. DA Davidson reissued a “neutral” rating with a $185.00 target price, while Evercore ISI gave an “outperform” rating with a $230.00 target price. StockNews.com upgraded the stock from a “hold” to a “buy” rating. Overall, the company currently has an average rating of “Moderate Buy” and an average price target of $206.67.

In terms of insider activity, VP Thomas P. Carey and Director Robert N. Duelks recently sold shares of Broadridge Financial Solutions. VP Carey sold 2,500 shares at an average price of $200.40, while Director Duelks sold 3,473 shares at $198.06. These transactions were disclosed in filings with the SEC.

Shares of Broadridge Financial Solutions opened at $198.04 on Monday, with a fifty-day moving average of $198.37. The company’s quarterly earnings data showed a net margin of 10.92% and a return on equity of 40.88%. Analysts expect the company to post 7.72 earnings per share for the current fiscal year.

Additionally, Broadridge Financial Solutions recently announced a quarterly dividend of $0.80 per share, to be paid on July 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.62%.

Broadridge Financial Solutions, Inc. provides investor communications and technology-driven solutions for the financial services industry. The company’s services include processing and distributing proxy materials, regulatory reports, and tax reporting solutions.

Overall, Broadridge Financial Solutions continues to attract attention from investors and analysts alike, with its recent performance and strategic moves in the market.