Canada Pension Plan Investment Board acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 244,906 shares of the business services provider's stock, valued at approximately $33,540,000. Canada Pension Plan Investment Board owned about 0.21% of Broadridge Financial Solutions at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Strs Ohio increased its stake in shares of Broadridge Financial Solutions by 25.8% in the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider's stock valued at $7,927,000 after purchasing an additional 9,996 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth $4,211,000. UNIVEST FINANCIAL Corp bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth $8,227,000. Empowered Funds LLC lifted its position in shares of Broadridge Financial Solutions by 29.9% during the 1st quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider's stock worth $7,869,000 after buying an additional 11,152 shares during the last quarter. Finally, New Age Alpha Advisors LLC boosted its stake in Broadridge Financial Solutions by 51.6% in the fourth quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider's stock valued at $8,237,000 after buying an additional 12,569 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. UBS Group reiterated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Weiss Ratings restated a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research note on Friday, August 7th. Needham & Company LLC decreased their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Moderate Buy" and an average target price of $215.86.
Check Out Our Latest Analysis on Broadridge Financial Solutions
Insider Buying and Selling
In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the sale, the insider directly owned 1 shares of the company's stock, valued at $155. The trade was a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.
Broadridge Financial Solutions Price Performance
Broadridge Financial Solutions stock opened at $183.06 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $20.87 billion, a PE ratio of 19.03 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $258.70. The stock has a 50-day moving average price of $156.12 and a two-hundred day moving average price of $160.16.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, beating analysts' consensus estimates of $3.76 by $0.06. The firm 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 revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.
Broadridge Financial Solutions Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Thursday, September 3rd will be given a dividend of $1.09 per share. The ex-dividend date is Thursday, September 3rd. This represents a $4.36 annualized dividend and a yield of 2.4%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's dividend payout ratio is 40.54%.
Broadridge Financial Solutions Company Profile
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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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