Andra AP fonden Raises Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Andra AP fonden nearly doubled its Broadridge Financial Solutions stake in the second quarter, adding 83,857 shares to own 170,757 shares valued at approximately $23.4 million. Institutional investors collectively own 90.03% of the company.
• Broadridge exceeded quarterly expectations, reporting $3.82 in EPS and $2.22 billion in revenue, with revenue up 7.5% year over year. Analysts expect about $10.54 in EPS for the current year.
• The company raised its quarterly dividend to $1.09 per share, or $4.36 annually, producing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $216.

Andra AP fonden lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 96.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 170,757 shares of the business services provider's stock after purchasing an additional 83,857 shares during the period. Andra AP fonden owned about 0.15% of Broadridge Financial Solutions worth $23,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Reflection Asset Management purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $25,000. Nemes Rush Group LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $27,000. Security National Bank of SO Dak purchased a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $26,000. Markowski Investments acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $27,000. Finally, Bell Investment Advisors Inc purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $29,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded down $0.63 during midday trading on Tuesday, reaching $163.99. The stock had a trading volume of 180,984 shares, compared to its average volume of 1,394,562. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The stock has a market cap of $18.70 billion, a P/E ratio of 17.05 and a beta of 0.90. The firm has a fifty day simple moving average of $166.38 and a two-hundred day simple moving average of $159.50. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $241.99.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping analysts' consensus estimates of $3.76 by $0.06. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. Broadridge Financial Solutions's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be issued a $1.09 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.7%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's dividend payout ratio is presently 45.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BR shares. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Royal Bank Of Canada increased their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. UBS Group reissued a "neutral" rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average 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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