Adage Capital Partners GP L.L.C. Has $29.56 Million Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Broadridge Financial Solutions by 39% by purchasing 34,200 additional shares, bringing its total ownership to 121,900 shares valued at approximately $29.56 million.
• Broadridge Financial Solutions recently reported earnings per share (EPS) of $3.55, beating the consensus estimate of $3.51, and saw a revenue increase of 6.2% year-over-year, totaling $2.07 billion.
• The company announced a quarterly dividend increase from $0.88 to $0.975 per share, reflecting a 1.5% yield and a dividend payout ratio of 49.65%.

Adage Capital Partners GP L.L.C. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 39.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,900 shares of the business services provider's stock after buying an additional 34,200 shares during the period. Adage Capital Partners GP L.L.C. owned 0.10% of Broadridge Financial Solutions worth $29,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC raised its holdings 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 purchasing an additional 46 shares in the last quarter. Norden Group LLC grew its position in shares of Broadridge Financial Solutions by 2.6% during the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider's stock worth $449,000 after acquiring an additional 47 shares during the last quarter. Crew Capital Management Ltd. grew its position in Broadridge Financial Solutions by 2.4% in the 1st quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider's stock valued at $490,000 after buying an additional 48 shares during the last quarter. Cresset Asset Management LLC grew its position in Broadridge Financial Solutions by 1.8% in the 1st quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider's stock valued at $686,000 after buying an additional 49 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Broadridge Financial Solutions by 7.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 747 shares of the business services provider's stock valued at $177,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 0.9%

Shares of Broadridge Financial Solutions stock traded up $2.30 on Monday, hitting $253.32. 593,101 shares of the company's stock traded hands, compared to its average volume of 595,501. The firm's 50-day moving average is $250.59 and its 200 day moving average is $241.56. Broadridge Financial Solutions, Inc. has a 52-week low of $207.21 and a 52-week high of $271.91. The stock has a market cap of $29.67 billion, a P/E ratio of 35.73 and a beta of 0.96. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $3.50 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is 49.65%.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of Broadridge Financial Solutions stock in a transaction dated 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 transaction, the chief executive officer directly owned 165,634 shares of the company's stock, valued at $42,986,992.02. The trade was a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 approximately $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. Over the last ninety days, insiders have sold 147,532 shares of company stock worth $38,417,208. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley boosted 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 report on Wednesday, August 6th. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $261.50.

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.