Amundi Boosts Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Amundi increased its Broadridge Financial Solutions stake by 67.5% in the first quarter, acquiring 426,587 additional shares and bringing its holdings to 1.06 million shares worth approximately $172.1 million. Institutional investors collectively own 90.03% of the company.
• Broadridge exceeded quarterly expectations, reporting $2.72 in EPS and $1.95 billion in revenue, with revenue rising 7.8% year over year. The company also maintains a quarterly dividend of $0.975, equivalent to a 2.5% annual yield.
• Analyst sentiment remains moderately positive, with four Buy and four Hold ratings and a consensus target price of $221.57; however, several firms recently lowered their price targets, while UBS assigned a Neutral rating.

Amundi lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 67.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,059,021 shares of the business services provider's stock after acquiring an additional 426,587 shares during the period. Amundi owned approximately 0.92% of Broadridge Financial Solutions worth $172,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BR. Brighton Jones LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $580,000. Empowered Funds LLC boosted its position in shares of Broadridge Financial Solutions by 41.5% in the first quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider's stock valued at $959,000 after acquiring an additional 1,160 shares during the period. Woodline Partners LP grew its stake in Broadridge Financial Solutions by 6.9% during the first quarter. Woodline Partners LP now owns 9,886 shares of the business services provider's stock valued at $2,397,000 after acquiring an additional 635 shares in the last quarter. Acadian Asset Management LLC grew its stake in Broadridge Financial Solutions by 480.8% during the first quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider's stock valued at $616,000 after acquiring an additional 2,106 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Broadridge Financial Solutions by 8.5% during the 2nd quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider's stock worth $6,203,000 after acquiring an additional 2,004 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,966 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares of the company's stock, valued at approximately $155. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

BR has been the subject of several analyst reports. Needham & Company LLC cut their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, May 1st. DA Davidson lowered their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating on the stock in a research report on Tuesday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. UBS Group reduced their target price on Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Finally, Weiss Ratings cut Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $221.57.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $154.87 on Friday. The firm has a market cap of $17.91 billion, a P/E ratio of 16.58 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $271.91. The business's 50 day moving average price is $146.73 and its 200-day moving average price is $164.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.09. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $0.975 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.90 annualized dividend and a yield of 2.5%. Broadridge Financial Solutions's dividend payout ratio is 41.76%.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm's core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.

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