Amundi Reduces Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Amundi cut its Broadridge Financial Solutions stake by 27.1% in the second quarter, selling 287,333 shares and retaining 771,688 shares valued at approximately $105.7 million. Institutional investors collectively own 90.03% of the company.
• Broadridge exceeded quarterly expectations, reporting $3.82 in adjusted EPS on $2.22 billion in revenue, with revenue increasing 7.5% year over year. The company also raised its quarterly dividend from $0.97 to $1.09 per share, equivalent to a 2.6% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $216, well above the reported share price of $167.96; ratings include four Buys and four Holds.

Amundi lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 27.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 771,688 shares of the business services provider's stock after selling 287,333 shares during the period. Amundi owned about 0.68% of Broadridge Financial Solutions worth $105,683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Grp LLC grew its holdings in Broadridge Financial Solutions by 123.6% in the second quarter. Wellington Grp LLC now owns 4,665 shares of the business services provider's stock worth $639,000 after purchasing an additional 2,579 shares during the period. California State Teachers Retirement System boosted its position in shares of Broadridge Financial Solutions by 13,091.8% in the 2nd quarter. California State Teachers Retirement System now owns 26,629,243 shares of the business services provider's stock worth $3,646,875,000 after purchasing an additional 26,427,381 shares in the last quarter. Paralel Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $1,947,000. Wedmont Private Capital grew its stake in shares of Broadridge Financial Solutions by 33.4% in the 2nd quarter. Wedmont Private Capital now owns 2,815 shares of the business services provider's stock worth $415,000 after buying an additional 705 shares during the last quarter. Finally, Saudi Central Bank increased its position in Broadridge Financial Solutions by 89.6% during the 2nd quarter. Saudi Central Bank now owns 8,172 shares of the business services provider's stock valued at $1,119,000 after buying an additional 3,863 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $167.96 on Thursday. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $255.74. The firm has a 50-day moving average price of $163.06 and a 200-day moving average price of $160.29. The firm has a market capitalization of $19.15 billion, a PE ratio of 17.46 and a beta of 0.90. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $0.06. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.97. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.6%. Broadridge Financial Solutions's payout ratio is currently 45.32%.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Royal Bank Of Canada raised their price target on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Finally, UBS Group restated a "neutral" rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $216.00.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc NYSE: BR is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company's offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.

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