Allstate Corp Has $1.21 Million Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Allstate Corp increased its stake in Broadridge Financial Solutions by 38.5% in Q1, owning a total of 4,971 shares valued at approximately $1.2 million.
• Analyst ratings are generally optimistic, with 8 analysts rating the stock as a "Buy" or "Hold," setting an average price target of $261.50.
• Broadridge announced a quarterly dividend of $0.975 per share, which is an increase from the previous $0.88, reflecting a 1.5% dividend yield.

Allstate Corp raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,971 shares of the business services provider's stock after purchasing an additional 1,381 shares during the quarter. Allstate Corp's holdings in Broadridge Financial Solutions were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Continuum Advisory LLC grew its stake 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 purchasing an additional 46 shares during the period. Norden Group LLC grew its stake 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 purchasing an additional 47 shares during the period. Crew Capital Management Ltd. grew its stake in shares of Broadridge Financial Solutions by 2.4% during the first quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider's stock worth $490,000 after purchasing an additional 48 shares during the period. Cresset Asset Management LLC grew its stake in shares of Broadridge Financial Solutions by 1.8% during the first quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider's stock worth $686,000 after purchasing an additional 49 shares during the period. Finally, BSW Wealth Partners grew its stake in shares of Broadridge Financial Solutions by 3.2% during the first quarter. BSW Wealth Partners now owns 1,686 shares of the business services provider's stock worth $409,000 after purchasing an additional 52 shares during the period. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 0.2%

Shares of Broadridge Financial Solutions stock traded up $0.41 during trading on Tuesday, reaching $257.10. The stock had a trading volume of 1,292,383 shares, compared to its average volume of 801,294. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 36.26 and a beta of 0.94. The stock has a fifty day moving average price of $248.19 and a two-hundred day moving average price of $240.80. Broadridge Financial Solutions, Inc. has a 52 week low of $206.95 and a 52 week 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 issued its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, beating 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 period in the previous year, the company posted $3.50 earnings per share. The company'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 fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.975 per share. 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. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. Broadridge Financial Solutions's payout ratio is presently 49.65%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director owned 30,892 shares of the company's stock, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,088 shares of company stock valued at $39,281,601 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions 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.