Groupama Asset Managment Lowers Stake in Broadridge Financial Solutions, Inc. $BR

Groupama Asset Managment reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 69.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,948 shares of the business services provider’s stock after selling 4,523 shares during the quarter. Groupama Asset Managment’s holdings in Broadridge Financial Solutions were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BR. Norges Bank bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at about $346,304,000. Van ECK Associates Corp boosted its position in Broadridge Financial Solutions by 110.6% in the 4th quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider’s stock valued at $329,239,000 after buying an additional 774,747 shares during the period. Pinebridge Investments LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth about $126,553,000. JPMorgan Chase & Co. grew its stake in Broadridge Financial Solutions by 52.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,403,997 shares of the business services provider’s stock worth $313,330,000 after acquiring an additional 485,297 shares in the last quarter. Finally, Amundi increased its position in shares of Broadridge Financial Solutions by 67.5% during the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock worth $172,070,000 after acquiring an additional 426,587 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,966 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the transaction, the insider directly owned 1 shares of the company’s stock, valued at approximately $155. The trade was a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $154.02 on Monday. The company has a 50 day moving average price of $146.80 and a 200-day moving average price of $164.45. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $271.91. The stock has a market capitalization of $17.81 billion, a PE ratio of 16.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.09. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.90 billion. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. Broadridge Financial Solutions’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 41.76%.

Analyst Ratings Changes

Several research firms have recently weighed in on BR. DA Davidson decreased their price target on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Needham & Company LLC reduced their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, June 22nd. UBS Group lowered their target price on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Weiss Ratings downgraded Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $221.57.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.