AGF Investments Inc. Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

AGF Investments Inc. decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 48.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,384 shares of the business services provider’s stock after selling 1,290 shares during the period. AGF Investments Inc.’s holdings in Broadridge Financial Solutions were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Jensen Investment Management Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Jensen Investment Management Inc. now owns 1,909,854 shares of the business services provider’s stock worth $252,101,000 after purchasing an additional 8,640 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Broadridge Financial Solutions by 615.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,068,026 shares of the business services provider’s stock worth $29,095,000 after acquiring an additional 918,680 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Broadridge Financial Solutions by 1.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 645,357 shares of the business services provider’s stock worth $85,188,000 after purchasing an additional 11,377 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Broadridge Financial Solutions by 1.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 571,345 shares of the business services provider’s stock valued at $75,418,000 after purchasing an additional 8,587 shares during the last quarter. Finally, Bristol Gate Capital Partners Inc. lifted its stake in Broadridge Financial Solutions by 4.0% in the third quarter. Bristol Gate Capital Partners Inc. now owns 441,583 shares of the business services provider’s stock worth $58,289,000 after purchasing an additional 17,065 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

Shares of Broadridge Financial Solutions stock opened at $147.50 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 36.42 and a beta of 0.83. The firm’s 50-day moving average is $149.00 and its two-hundred day moving average is $143.64. Broadridge Financial Solutions, Inc. has a 1 year low of $81.90 and a 1 year high of $158.36.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Monday, February 1st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Broadridge Financial Solutions had a net margin of 10.27% and a return on equity of 48.98%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 5.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 2nd. Investors of record on Monday, March 15th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, March 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 45.73%.

BR has been the topic of a number of recent analyst reports. Raymond James increased their target price on Broadridge Financial Solutions from $155.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Truist began coverage on shares of Broadridge Financial Solutions in a report on Friday, December 18th. They set a “buy” rating and a $175.00 price objective for the company. Finally, BTIG Research upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $176.00 target price on the stock in a research note on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $154.17.

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,699 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $144.83, for a total value of $535,726.17. Following the completion of the sale, the director now directly owns 34,266 shares in the company, valued at $4,962,744.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Adam D. Amsterdam sold 20,936 shares of the company’s stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $148.49, for a total value of $3,108,786.64. Following the transaction, the vice president now directly owns 21,400 shares in the company, valued at $3,177,686. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,425 shares of company stock worth $7,415,568. 2.00% of the stock is owned by corporate insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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