Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 29,762 shares of the business services provider’s stock after selling 907 shares during the quarter. Corebridge Financial Inc.’s holdings in Broadridge Financial Solutions were worth $6,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC grew its position in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter worth about $39,000. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $237.60 on Friday. The business’s 50 day moving average price is $236.97 and its 200 day moving average price is $227.56. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 37.18 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the firm posted $0.92 EPS. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BR. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $241.00.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last 90 days. Company insiders own 1.30% of the company’s stock.

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.