Truist Financial Corp Sells 3,368 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Truist Financial Corp reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,937 shares of the business services provider’s stock after selling 3,368 shares during the quarter. Truist Financial Corp’s holdings in Broadridge Financial Solutions were worth $10,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rafferty Asset Management LLC increased its position in Broadridge Financial Solutions by 5.1% in the fourth quarter. Rafferty Asset Management LLC now owns 9,874 shares of the business services provider’s stock worth $2,032,000 after purchasing an additional 482 shares during the period. Peapack Gladstone Financial Corp bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $211,000. Goldman Sachs Group Inc. lifted its holdings in Broadridge Financial Solutions by 22.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock valued at $97,120,000 after buying an additional 86,853 shares during the period. Tower Research Capital LLC TRC boosted its stake in Broadridge Financial Solutions by 162.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,261 shares of the business services provider’s stock valued at $3,963,000 after acquiring an additional 11,916 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Broadridge Financial Solutions by 10.0% during the 4th quarter. 1832 Asset Management L.P. now owns 5,004 shares of the business services provider’s stock worth $1,030,000 after acquiring an additional 454 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 162 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now owns 67,267 shares of the company’s stock, valued at $14,126,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 over the last three months. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Trading Up 0.2 %

NYSE:BR opened at $215.33 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day simple moving average is $211.67 and its 200-day simple moving average is $204.09. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The stock has a market capitalization of $25.45 billion, a PE ratio of 36.75 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

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.