Aberdeen Group plc Sells 379,250 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Aberdeen Group plc has significantly reduced its stake in Broadridge Financial Solutions by 75.4%, selling 379,250 shares, leaving it with 123,654 shares valued at approximately $29.6 million.
• Broadridge Financial Solutions has increased its quarterly dividend from $0.88 to $0.975 per share, representing a yield of 1.5% and a total annualized dividend of $3.90.
• Recent analyst upgrades include a raise in target prices from firms like Morgan Stanley and Needham & Company, with the stock currently having a consensus target price of $261.50.

Aberdeen Group plc reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,654 shares of the business services provider's stock after selling 379,250 shares during the period. Aberdeen Group plc owned 0.11% of Broadridge Financial Solutions worth $29,602,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Broadridge Financial Solutions during the first quarter worth about $29,000. Whipplewood Advisors LLC increased its position in Broadridge Financial Solutions by 2,620.0% during 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 during the period. Minot DeBlois Advisors LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $34,000. Continuum Advisory LLC grew its stake in 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 in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in 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 in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 11,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 15th. The stock was sold at an average price of $259.29, for a total transaction of $2,852,190.00. Following the transaction, the chief executive officer directly owned 154,634 shares in the company, valued at $40,095,049.86. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,470 shares of company stock worth $39,026,774. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Needham & Company LLC increased their price objective 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. Morgan Stanley increased their price objective on shares of 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. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $261.50.

Broadridge Financial Solutions Trading Down 0.2%

NYSE BR traded down $0.6240 during trading hours on Wednesday, reaching $262.2960. The company's stock had a trading volume of 866,030 shares, compared to its average volume of 590,776. The firm has a fifty day simple moving average of $246.12 and a 200-day simple moving average of $240.12. The stock has a market cap of $30.72 billion, a P/E ratio of 37.00 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 52 week low of $206.95 and a 52 week high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $3.50 EPS. The company's 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. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's payout ratio is 49.65%.

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.