Pacer Advisors Inc. Decreases Stake in Broadridge Financial Solutions, Inc. $BR

Pacer Advisors Inc. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 37.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,502 shares of the business services provider’s stock after selling 5,606 shares during the quarter. Pacer Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $2,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BR. Farther Finance Advisors LLC grew its position in Broadridge Financial Solutions by 56.1% during the second quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock valued at $1,344,000 after buying an additional 1,987 shares during the period. Shell Asset Management Co. boosted its stake in Broadridge Financial Solutions by 87.9% in the second quarter. Shell Asset Management Co. now owns 30,069 shares of the business services provider’s stock valued at $7,308,000 after acquiring an additional 14,067 shares during the last quarter. Addenda Capital Inc. grew its position in shares of Broadridge Financial Solutions by 28.6% during the 3rd quarter. Addenda Capital Inc. now owns 67,152 shares of the business services provider’s stock valued at $16,049,000 after acquiring an additional 14,942 shares during the period. Nordea Investment Management AB increased its stake in shares of Broadridge Financial Solutions by 40.8% during the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after purchasing an additional 63,798 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Broadridge Financial Solutions by 62.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock worth $167,000 after purchasing an additional 265 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Down 1.0%

Shares of NYSE BR opened at $225.20 on Wednesday. Broadridge Financial Solutions, Inc. has a 52 week low of $212.33 and a 52 week high of $271.91. The business has a 50-day simple moving average of $226.62 and a two-hundred day simple moving average of $238.71. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The company has a market cap of $26.29 billion, a P/E ratio of 28.83 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results 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 firm had revenue of $1.05 billion for the quarter. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a $0.975 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is currently 49.94%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BR. DA Davidson reissued a “neutral” rating and set a $240.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Monday. Morgan Stanley decreased their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. UBS Group lowered their price objective on 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. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $259.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,214 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the completion of the sale, the vice president owned 6,026 shares of the company’s stock, valued at approximately $1,381,520.76. This trade represents a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 3,984 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the transaction, the president 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 SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Broadridge Financial Solutions Company Profile

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.