Algert Global LLC Purchases Shares of 1,330 Broadridge Financial Solutions, Inc. $BR

Key Points

• Algert Global LLC made a new investment of approximately $322,000 in Broadridge Financial Solutions by purchasing 1,330 shares in the first quarter of 2023.
• Insider transactions included Director Maura A. Markus selling 3,556 shares for over $864,000, and CEO Timothy C. Gokey selling 11,000 shares for around $2.85 million.
• Broadridge Financial Solutions recently declared a quarterly dividend of $0.975, increasing from the prior $0.88, representing a yield of 1.5%.

Algert Global LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,330 shares of the business services provider's stock, valued at approximately $322,000.

Other large investors also recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth about $217,000. CWA Asset Management Group LLC boosted its stake in shares of Broadridge Financial Solutions by 6.8% during the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after buying an additional 87 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth about $29,000. Sequoia Financial Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 9.6% during the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock worth $279,000 after buying an additional 101 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Broadridge Financial Solutions by 12.3% during the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock worth $159,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

BR has been the subject of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC increased their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $261.50.

Insider Buying and Selling

In related news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer owned 143,285 shares in the company, valued at approximately $37,020,545.45. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,088 shares of company stock worth $39,281,601. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded down $0.55 during trading hours on Friday, hitting $256.52. The company's stock had a trading volume of 210,999 shares, compared to its average volume of 591,469. The business has a fifty day moving average of $248.99 and a 200-day moving average of $241.03. The stock has a market cap of $30.05 billion, a price-to-earnings ratio of 36.20 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $206.95 and a twelve month high of $271.91. 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 (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, beating the consensus estimate of $3.51 by $0.04. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.50 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS 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 given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio (DPR) 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.