Arrowstreet Capital Limited Partnership Invests $1.20 Million in Broadridge Financial Solutions, Inc. $BR

Key Points

• Arrowstreet Capital acquired a new $1.20 million stake in Broadridge Financial Solutions during the first quarter, purchasing 7,368 shares. Institutional investors and hedge funds collectively own 90.03% of the company.
• Broadridge exceeded quarterly expectations, reporting $3.82 in earnings per share and $2.22 billion in revenue, with revenue up 7.5% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $213.71.
• The company raised its quarterly dividend from $0.97 to $1.09 per share, implying an annualized dividend of $4.36 and a 2.7% yield.

Arrowstreet Capital Limited Partnership acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 7,368 shares of the business services provider's stock, valued at approximately $1,197,000.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $580,000. Empowered Funds LLC boosted its position in shares of Broadridge Financial Solutions by 41.5% during the 1st quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider's stock worth $959,000 after purchasing an additional 1,160 shares in the last quarter. Woodline Partners LP grew its stake in shares of Broadridge Financial Solutions by 6.9% during the 1st quarter. Woodline Partners LP now owns 9,886 shares of the business services provider's stock worth $2,397,000 after purchasing an additional 635 shares during the period. Acadian Asset Management LLC grew its stake in shares of Broadridge Financial Solutions by 480.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider's stock worth $616,000 after purchasing an additional 2,106 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 8.5% in the 2nd quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider's stock valued at $6,203,000 after purchasing an additional 2,004 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.7%

BR opened at $164.50 on Friday. The firm has a market cap of $18.76 billion, a P/E ratio of 17.10 and a beta of 0.87. The business's fifty day simple moving average is $148.00 and its 200 day simple moving average is $162.86. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $271.91. The company has a quick ratio of 0.94, a current ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.06. The firm 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%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.56 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Thursday, September 3rd will be paid a $1.09 dividend. The ex-dividend date is Thursday, September 3rd. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.97. This represents a $4.36 annualized dividend and a yield of 2.7%. Broadridge Financial Solutions's payout ratio is currently 40.54%.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at approximately $155. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, May 1st. UBS Group lowered their target price on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Weiss Ratings cut shares of Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Royal Bank Of Canada upped their price target on Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.71.

Broadridge Financial Solutions Company Profile

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.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source