South Dakota Investment Council Takes Position in Broadridge Financial Solutions, Inc. $BR

South Dakota Investment Council bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,700 shares of the business services provider’s stock, valued at approximately $764,000.

A number of other hedge funds have also made changes to their positions in the company. Strs Ohio boosted its holdings in shares of Broadridge Financial Solutions by 25.8% in the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock worth $7,927,000 after acquiring an additional 9,996 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at $4,211,000. UNIVEST FINANCIAL Corp bought a new position in Broadridge Financial Solutions in the 1st quarter valued at $8,227,000. New Age Alpha Advisors LLC raised its position in Broadridge Financial Solutions by 51.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider’s stock valued at $8,237,000 after purchasing an additional 12,569 shares during the last quarter. Finally, Cvfg LLC acquired a new position in Broadridge Financial Solutions in the first quarter worth $2,463,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the business’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 approximately $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.5%

Shares of BR opened at $154.02 on Friday. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 16.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94. The business’s fifty day moving average price is $146.80 and its two-hundred day moving average price is $164.86. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $271.91.

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

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 41.76%.

Analyst Ratings Changes

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

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.