Legal & General Group Plc Has $263.03 Million Position in Broadridge Financial Solutions, Inc. $BR

Legal & General Group Plc lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,082,299 shares of the business services provider’s stock after selling 7,008 shares during the period. Legal & General Group Plc owned 0.92% of Broadridge Financial Solutions worth $263,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its stake in Broadridge Financial Solutions by 89.5% in the 2nd quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock valued at $26,000 after buying an additional 51 shares during the last quarter. ORG Partners LLC boosted its holdings in Broadridge Financial Solutions by 360.0% during the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Broadridge Financial Solutions by 85.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 57 shares during the period. Bank of Jackson Hole Trust grew its position in shares of Broadridge Financial Solutions by 110.3% in the second quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 64 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $228.34 on Friday. The firm has a market capitalization of $26.65 billion, a PE ratio of 29.24 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91. The business’s 50 day moving average is $231.17 and its 200-day moving average is $241.03.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The business had revenue of $1.05 billion during the quarter. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 49.94%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley decreased their target price on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. UBS Group cut their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. DA Davidson reissued a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $259.83.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the sale, the president directly owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares in the company, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

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.