Principal Securities Inc. Purchases Shares of 6,473 Broadridge Financial Solutions, Inc. (NYSE:BR)

12 May 2024, 08:28 by Teresa Graham · The Cerbat Gem

Principal Securities Inc. acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,473 shares of the business services provider’s stock, valued at approximately $1,332,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthspire Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $221,000. Hyman Charles D bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $201,000. Everpar Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $673,000. Barlow Wealth Partners Inc. bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $6,961,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Broadridge Financial Solutions by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 634,258 shares of the business services provider’s stock worth $130,499,000 after acquiring an additional 7,350 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $195.69 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a one year low of $144.54 and a one year high of $210.24. The business’s 50 day simple moving average is $199.69 and its 200 day simple moving average is $195.93. The stock has a market capitalization of $23.13 billion, a PE ratio of 33.39 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $206.67.

Read Our Latest Stock Report on Broadridge Financial Solutions

Insider Activity

In other news, Director Robert N. Duelks sold 830 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold 25,761 shares of company stock valued at $5,223,959 in the last ninety days. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Company Profile

(Free Report)

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.