abrdn plc Sells 33,179 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

abrdn plc cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 502,904 shares of the business services provider’s stock after selling 33,179 shares during the quarter. abrdn plc owned about 0.43% of Broadridge Financial Solutions worth $113,440,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $38,000. Finally, FSA Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $39,000. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on BR shares. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $238.72 on Tuesday. The firm’s 50-day moving average price is $231.37 and its 200-day moving average price is $220.56. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $27.90 billion, a PE ratio of 37.36 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $241.45.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.55 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Company 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.