Elo Mutual Pension Insurance Co Increases Stake in Broadridge Financial Solutions

Elo Mutual Pension Insurance Co has increased its investment in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.2% during the fourth quarter, according to the latest 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 1,385 shares during this period, the fund now holds 11,883 shares of Broadridge, valued at approximately $2,687,000 at the end of the quarter.

Institutional Investment Activity

Other institutional investors have also adjusted their positions in Broadridge Financial Solutions. Thrivent Financial for Lutherans, for instance, raised its holdings by 24.5% in the third quarter, now owning 6,204 shares valued at $1,335,000 after purchasing an extra 1,219 shares. Additionally, Great Valley Advisor Group Inc. established a new investment in Broadridge during the third quarter, worth around $204,000. Cerity Partners LLC increased its stake by 58.1%, bringing its total to 21,914 shares valued at $4,713,000. Algert Global LLC also entered a new position in the stock during the same period, valued at about $542,000. Lastly, Bank of Montreal Can boosted its holdings by 25.9%, now owning 139,763 shares worth approximately $29,634,000. Overall, institutional investors hold 90.03% of Broadridge's total shares.

Broadridge Financial Solutions Stock Performance

Broadridge's shares opened at $237.60 on Friday, with a market capitalization of $27.80 billion. The company's price-to-earnings (P/E) ratio stands at 37.18, and it has a beta of 1.05. The 50-day simple moving average is $236.97, while the 200-day average is $227.56. Over the past year, the stock has seen a low of $188.30 and a high of $246.58. The company maintains a debt-to-equity ratio of 1.64, along with current and quick ratios both at 1.35.

Recent Earnings Report

Broadridge Financial Solutions recently reported its quarterly earnings on January 31st. The company posted earnings of $1.56 per share (EPS), exceeding the consensus estimate of $1.32 by $0.24. Broadridge achieved a return on equity of 44.40% and a net margin of 11.36%. This marks a significant improvement, as the prior year's earnings were reported at $0.92 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will record an EPS of 8.53 for the current year.

Dividend Announcement

In addition to its earnings report, Broadridge Financial Solutions has announced a quarterly dividend of $0.88 per share, set to be paid on April 3rd. Investors on record as of March 13th will be eligible for this dividend. The ex-dividend date is also March 13th. On an annualized basis, this results in a dividend payout of $3.52 per share, providing a yield of 1.48%. The company’s payout ratio is currently 55.09%.

Insider Transactions

Recently, there have been insider trading activities at Broadridge Financial Solutions. VP Laura Matlin sold 514 shares on February 4th at an average price of $241.60, totaling approximately $124,182.40. Following this sale, she holds 6,602 shares valued at $1,595,043.20. Furthermore, CEO Timothy C. Gokey sold 95,956 shares on March 10th at an average price of $235.43, amounting to over $22.5 million. After this sale, his holdings are now valued at around $39.97 million. In total, insiders sold 124,754 shares worth about $29.4 million over the last three months, representing 1.30% of the company's outstanding shares.

Analyst Ratings

Analysts have recently shared their perspectives on Broadridge's stock. DA Davidson maintained a "neutral" rating and set a price target of $215.00. Meanwhile, UBS Group has amended its target price from $250.00 to $260.00 while maintaining a "neutral" rating. Royal Bank of Canada increased its price target from $246.00 to $259.00, rating the stock as "outperform". StockNews.com upgraded its rating from "hold" to "buy" recently. Overall, five research analysts rated Broadridge as a hold, while two recommended it as a buy, leading to a consensus rating of "Hold" with an average price target of $241.00.

Overview of Broadridge Financial Solutions

Broadridge Financial Solutions, Inc. specializes in investor communications and technology-driven services tailored for the financial services sector. Its Investor Communication Solutions segment is responsible for handling and distributing proxy materials to investors in various securities, along with regulatory reports and tax reporting solutions.

investment, stocks, dividend