9,153 Shares in Broadridge Financial Solutions, Inc. $BR Acquired by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC acquired 9,153 shares of Broadridge Financial Solutions, valued at approximately $2.22 million, during the 2nd quarter.
• Broadridge recently increased its quarterly dividend from $0.88 to $0.975, representing a 1.7% dividend yield and a payout ratio of 55.01%.
• Analysts have set new price targets for Broadridge Financial Solutions, with the average target now at $261.50 and two analysts rating the stock as a "Buy."

Park Avenue Securities LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,153 shares of the business services provider's stock, valued at approximately $2,224,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BR. GAMMA Investing LLC increased its stake in Broadridge Financial Solutions by 31,011.4% in the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after acquiring an additional 986,782 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Broadridge Financial Solutions by 28,222.6% during the first quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider's stock worth $230,254,000 after purchasing an additional 946,304 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Broadridge Financial Solutions by 577.9% in the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock worth $251,513,000 after purchasing an additional 883,125 shares during the last quarter. Vanguard Group Inc. raised its stake in Broadridge Financial Solutions by 3.1% in the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after purchasing an additional 438,381 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Broadridge Financial Solutions during the first quarter valued at approximately $91,445,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on BR. Needham & Company LLC boosted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Morgan Stanley lifted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Hold" and an average target price of $261.50.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares of the company's stock, valued at $37,020,545.45. This represents a 3.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock valued at $38,417,208 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Down 1.2%

Shares of NYSE:BR opened at $236.04 on Thursday. The stock has a market capitalization of $27.65 billion, a P/E ratio of 33.29 and a beta of 0.96. The stock's 50-day moving average price is $252.58 and its 200-day moving average price is $242.18. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 12-month low of $208.14 and a 12-month high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period in the prior year, the business posted $3.50 EPS. Broadridge Financial Solutions's quarterly revenue was up 6.2% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions's payout ratio is presently 55.01%.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.

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