742,884 Shares in Broadridge Financial Solutions, Inc. $BR Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 742,884 shares of the business services provider's stock, valued at approximately $101,738,000. Bank of New York Mellon Corp owned about 0.64% of Broadridge Financial Solutions at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. Reflection Asset Management purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $25,000. Nemes Rush Group LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $27,000. Prosperity Bancshares Inc acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $28,000. Evolution Wealth Management Inc. acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $36,000. Finally, DV Equities LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada raised their target price on Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Weiss Ratings reissued a "hold (c-)" rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Needham & Company LLC lowered their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. DA Davidson lowered their price target on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. Finally, Morgan Stanley raised their target price on 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 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, the company currently has an average rating of "Moderate Buy" and an average target price of $215.86.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares in the company, valued at $155. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $185.61 on Tuesday. The stock has a 50 day moving average of $153.56 and a two-hundred day moving average of $160.27. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $263.00. The firm has a market cap of $21.16 billion, a P/E ratio of 19.29 and a beta of 0.87. 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 earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.06. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.97. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.3%. Broadridge Financial Solutions's payout ratio is currently 40.54%.

Broadridge Financial Solutions Profile

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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