AQR Capital Management LLC Sells 82,339 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• AQR Capital Management LLC reduced its stake in Broadridge Financial Solutions by 28.1% during the first quarter, selling 82,339 shares to hold a total of 211,104 shares valued at approximately $50.45 million.
• Broadridge Financial Solutions recently reported a quarterly earnings of $3.55 per share, surpassing analysts' expectations, and experienced a revenue growth of 6.2% year-over-year.
• The company has announced an increase in its quarterly dividend to $0.975 per share, reflecting a change from the previous dividend of $0.88.

AQR Capital Management LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 28.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,104 shares of the business services provider's stock after selling 82,339 shares during the quarter. AQR Capital Management LLC owned approximately 0.18% of Broadridge Financial Solutions worth $50,452,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after purchasing an additional 438,381 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Broadridge Financial Solutions by 2.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock valued at $409,662,000 after purchasing an additional 39,846 shares during the period. Bahl & Gaynor Inc. increased its position in Broadridge Financial Solutions by 3.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider's stock valued at $283,278,000 after purchasing an additional 38,527 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadridge Financial Solutions by 15.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,043,126 shares of the business services provider's stock valued at $235,840,000 after purchasing an additional 138,207 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Broadridge Financial Solutions by 577.9% during the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock valued at $251,513,000 after purchasing an additional 883,125 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the transaction, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 84,571 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the transaction, the chief executive officer owned 165,634 shares in the company, valued at $42,986,992.02. This represents a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock worth $38,417,208 in the last 90 days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Down 0.7%

Broadridge Financial Solutions stock traded down $1.90 during mid-day trading on Friday, reaching $252.92. The stock had a trading volume of 104,105 shares, compared to its average volume of 592,214. The company has a market capitalization of $29.62 billion, a price-to-earnings ratio of 35.68 and a beta of 0.96. The company has a 50-day moving average price of $251.45 and a two-hundred day moving average price of $241.95. Broadridge Financial Solutions, Inc. has a one year low of $207.21 and a one year high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Broadridge Financial Solutions's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.50 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. The ex-dividend date is Thursday, September 11th. This represents a $3.90 annualized dividend and a yield of 1.5%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 49.65%.

Analyst Ratings Changes

A number of brokerages have recently commented on BR. UBS Group boosted 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. Needham & Company LLC boosted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Morgan Stanley boosted 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. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $261.50.

Broadridge Financial Solutions Company 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.