Fintel reports that on August 22, 2023, JP Morgan maintained coverage of Broadridge Financial Solutions (NYSE:BR) with a Neutral recommendation.
Analyst Price Forecast Suggests 5.93% Downside
As of August 2, 2023, the average one-year price target for Broadridge Financial Solutions is 167.28. The forecasts range from a low of 141.40 to a high of $192.15. The average price target represents a decrease of 5.93% from its latest reported closing price of 177.82.
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The projected annual revenue for Broadridge Financial Solutions is 6,659MM, an increase of 9.87%. The projected annual non-GAAP EPS is 7.75.
What is the Fund Sentiment?
There are 1454 funds or institutions reporting positions in Broadridge Financial Solutions. This is an increase of 10 owner(s) or 0.69% in the last quarter. Average portfolio weight of all funds dedicated to BR is 0.24%, a decrease of 20.90%. Total shares owned by institutions increased in the last three months by 2.22% to 121,969K shares. 
The put/call ratio of BR is 4.20, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 3,985K shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 3,488K shares, representing an increase of 12.48%. The firm decreased its portfolio allocation in BR by 47.02% over the last quarter.
Capital International Investors holds 3,712K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 2,769K shares, representing an increase of 25.42%. The firm increased its portfolio allocation in BR by 42.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,640K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 3,575K shares, representing an increase of 1.78%. The firm increased its portfolio allocation in BR by 2.73% over the last quarter.
APG Asset Management N.V. holds 3,635K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 3,858K shares, representing a decrease of 6.14%. The firm increased its portfolio allocation in BR by 0.79% over the last quarter.
Janus Henderson Group holds 3,318K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 3,302K shares, representing an increase of 0.49%. The firm decreased its portfolio allocation in BR by 64.97% over the last quarter.
Broadridge Financial Solutions Background Information
(This description is provided by the company.)
Broadridge Financial Solutions, a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. Broadridge delivers technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge's technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 17 countries.
Additional reading:
- AMENDED AND RESTATED TERM CREDIT AGREEMENT dated as of August 17, 2023, BROADRIDGE FINANCIAL SOLUTIONS, INC., The LENDERS Party Hereto JPMORGAN CHASE BANK, N.A., as Administrative Agent JPMORGAN CHASE BANK, N.A., BOFA SECURITIES, INC. and WELLS FARGO
- Broadridge Reports Fourth Quarter and Fiscal 2023 Results Q4 Recurring revenues grew 7%, up 8% constant currency, with Diluted EPS growth of 30% and Adjusted EPS growth of 21% 2023 Recurring revenues grew 7%, up 9% constant currency, with Diluted EPS
- 0© 2023 | Scaling a Global Fintech Leader E A R N I N G S C O N F E R E N C E C A L L Fiscal Fourth Quarter and Full-Year 2023 EXHIBIT 99.2 1© 2023 | Forward-Looking Statements This presentation and other written or oral statements made from time to
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