The Manufacturers Life Insurance Company Acquires 320,022 Shares of Broadridge Financial Solutions, Inc. $BR

The Manufacturers Life Insurance Company boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 481.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 386,435 shares of the business services provider’s stock after buying an additional 320,022 shares during the period. The Manufacturers Life Insurance Company’s holdings in Broadridge Financial Solutions were worth $62,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BR. Reflection Asset Management acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $25,000. Nemes Rush Group LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $27,000. Prosperity Bancshares Inc acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $28,000. WPG Advisers LLC raised its position in shares of Broadridge Financial Solutions by 77.5% in the fourth quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 62 shares during the period. Finally, DV Equities LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BR shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. Weiss Ratings cut shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group lowered their price target on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Needham & Company LLC dropped their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, DA Davidson cut their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.57.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 1 shares in the company, valued at approximately $155. This trade represents a 99.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $159.35 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $271.91. The company has a fifty day moving average price of $146.63 and a 200 day moving average price of $165.42. The stock has a market cap of $18.43 billion, a P/E ratio of 17.06 and a beta of 0.89.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, topping 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%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, June 12th. Broadridge Financial Solutions’s payout ratio is currently 41.76%.

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.