Allspring Global Investments Holdings LLC Sells 637 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Allspring Global Investments Holdings LLC cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,492 shares of the business services provider’s stock after selling 637 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Broadridge Financial Solutions were worth $1,336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $25,000. Headinvest LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $32,000. First Command Advisory Services Inc. bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $34,000. Truvestments Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $37,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the transaction, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 in the last three months. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Up 0.4 %

Shares of NYSE BR opened at $194.23 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The company has a 50-day moving average price of $200.66 and a 200-day moving average price of $194.34. The stock has a market capitalization of $22.87 billion, a P/E ratio of 33.84 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 1 year low of $139.52 and a 1 year high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Analyst Ratings Changes

Several brokerages have issued reports on BR. Evercore ISI reissued an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $206.67.

About Broadridge Financial Solutions

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.