Abacus FCF Advisors LLC Purchases Shares of 52,935 Broadridge Financial Solutions, Inc. $BR

Key Points

• Abacus FCF Advisors LLC has made a new $12.87 million investment in Broadridge Financial Solutions, acquiring 52,935 shares of the company's stock in the second quarter.
• CEO Timothy C. Gokey and President Christopher John Perry each sold significant amounts of their shares recently, with Gokey reducing his position by 33.80%.
• Broadridge Financial Solutions announced a quarterly dividend increase to $0.975, marking a boost from the previous dividend of $0.88, with a yield of 1.6%.

Abacus FCF Advisors LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 52,935 shares of the business services provider's stock, valued at approximately $12,865,000.

Several other large investors also recently modified their holdings of BR. Golden State Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the first quarter worth about $29,000. Whipplewood Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after buying an additional 46 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock worth $35,000 after buying an additional 117 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth about $36,000. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the sale, the chief executive officer owned 165,634 shares of the company's stock, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the transaction, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,532 shares of company stock worth $38,417,208. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded down $2.48 during trading hours on Tuesday, reaching $239.12. 298,308 shares of the stock were exchanged, compared to its average volume of 601,332. The firm has a market capitalization of $28.01 billion, a price-to-earnings ratio of 33.73 and a beta of 0.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a 52 week low of $208.14 and a 52 week high of $271.91. The stock's fifty day simple moving average is $252.46 and its 200 day simple moving average is $242.25.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $3.50 earnings per share. The firm'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. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is 55.01%.

About Broadridge Financial Solutions

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.