Voya Investment Management LLC Cuts Stock Position in Broadridge Financial Solutions, Inc. $BR

by · The Cerbat Gem

Voya Investment Management LLC trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 19.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,341 shares of the business services provider’s stock after selling 12,835 shares during the period. Voya Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $12,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $580,000. Algert Global LLC bought a new stake in Broadridge Financial Solutions in the first quarter worth $322,000. Wellington Management Group LLP boosted its position in Broadridge Financial Solutions by 26.2% during the first quarter. Wellington Management Group LLP now owns 5,849 shares of the business services provider’s stock valued at $1,418,000 after buying an additional 1,213 shares during the period. Martingale Asset Management L P grew its stake in shares of Broadridge Financial Solutions by 5.1% during the first quarter. Martingale Asset Management L P now owns 1,690 shares of the business services provider’s stock valued at $410,000 after buying an additional 82 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Broadridge Financial Solutions by 456.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 25,781 shares of the business services provider’s stock worth $6,251,000 after buying an additional 21,152 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,214 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the sale, the vice president owned 6,026 shares of the company’s stock, valued at $1,381,520.76. The trade was a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 3,984 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the sale, the president directly owned 44,829 shares in the company, valued at approximately $10,131,354. This represents a 8.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several recent research reports. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley cut their target price on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. UBS Group decreased their target price on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. DA Davidson restated a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $259.83.

View Our Latest Report on BR

Broadridge Financial Solutions Trading Up 1.0%

NYSE:BR opened at $228.18 on Tuesday. The company has a 50-day moving average price of $227.03 and a 200-day moving average price of $239.31. The stock has a market cap of $26.64 billion, a price-to-earnings ratio of 29.22 and a beta of 0.99. 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 12 month low of $212.33 and a 12 month high of $271.91.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share 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 for the quarter. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced 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 is Friday, December 12th. Broadridge Financial Solutions’s payout ratio is 49.94%.

Broadridge Financial Solutions Company Profile

(Free Report)

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.

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