55,032 Shares in Broadridge Financial Solutions, Inc. $BR Purchased by Howard Capital Management LLC

Key Points

• Howard Capital Management acquired 55,032 Broadridge Financial Solutions shares worth approximately $8.9 million in the third quarter. Institutional investors collectively own 90.03% of the company.
• Broadridge exceeded quarterly earnings and revenue expectations, reporting $3.82 EPS and $2.22 billion in revenue, while revenue increased 7.5% year over year.
• The company raised its quarterly dividend to $1.09 per share, equivalent to an annualized $4.36 dividend and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with a $216 average price target.

Howard Capital Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,032 shares of the business services provider's stock, valued at approximately $8,866,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Michael J. Porro & Co. Financial Advisors Inc. bought a new stake in Broadridge Financial Solutions in the third quarter valued at $644,000. V Square Quantitative Management LLC raised its stake in Broadridge Financial Solutions by 4.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,577 shares of the business services provider's stock valued at $898,000 after acquiring an additional 232 shares in the last quarter. Harrell Investment Partners LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $202,000. Assenagon Asset Management S.A. raised its stake in Broadridge Financial Solutions by 5,121.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 476,279 shares of the business services provider's stock valued at $76,729,000 after acquiring an additional 467,157 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new position in Broadridge Financial Solutions during the 3rd quarter worth $798,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR traded up $0.82 during trading on Friday, hitting $174.93. The stock had a trading volume of 1,307,918 shares, compared to its average volume of 911,737. The firm has a market cap of $19.75 billion, a PE ratio of 18.18 and a beta of 0.92. 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, Inc. has a 12 month low of $133.83 and a 12 month high of $236.02. The company has a 50 day simple moving average of $170.16 and a 200-day simple moving average of $157.90.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $0.06. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $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 was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were issued a $1.09 dividend. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.5%. Broadridge Financial Solutions's payout ratio is 45.32%.

Analyst Ratings Changes

Several research firms have commented on BR. UBS Group reissued a "neutral" rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Weiss Ratings raised shares of Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Royal Bank Of Canada increased their price target on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. Finally, Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock 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 given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.00.

Insider Buying and Selling

In other news, VP Thomas Carey sold 2,501 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. The trade was a 22.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions 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.

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