15,360 Shares in Broadridge Financial Solutions, Inc. $BR Acquired by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management acquired 15,360 shares of Broadridge Financial Solutions in the third quarter, valued at approximately $2.47 million. Institutional investors collectively own 90.03% of the company’s shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $216, compared with the reported share price of $168.42.
• Broadridge exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend to $1.09, or $4.36 annually, representing a 2.6% yield.

NorthCrest Asset Manangement LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,360 shares of the business services provider's stock, valued at approximately $2,474,000.

A number of other institutional investors also recently bought and sold shares of BR. Reflection Asset Management acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $25,000. Security National Bank of SO Dak purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $26,000. Markowski Investments acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth $27,000. Valley Wealth Managers Inc. increased its stake in shares of Broadridge Financial Solutions by 230.8% in the third quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider's stock worth $28,000 after acquiring an additional 120 shares during the period. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth $29,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a report on Monday, August 31st. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. UBS Group reaffirmed a "neutral" rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Finally, Weiss Ratings raised Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $216.00.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the sale, the vice president directly owned 8,800 shares of the company's stock, valued at approximately $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.00% of the company's stock.

Broadridge Financial Solutions Trading Up 1.2%

Shares of NYSE:BR opened at $168.42 on Wednesday. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $236.02. The company has a market capitalization of $19.01 billion, a PE ratio of 17.51 and a beta of 0.92. The business has a 50 day moving average of $169.71 and a two-hundred day moving average of $157.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $3.76 by $0.06. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Thursday, September 3rd were paid a $1.09 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.6%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 45.32%.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company's services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.