Ascent Group LLC Purchases New Shares in Broadridge Financial Solutions, Inc. $BR

Key Points

• Ascent Group LLC acquired a new stake in Broadridge Financial Solutions, purchasing 1,234 shares valued at approximately $299,000 in the first quarter.
• Broadridge Financial Solutions recently increased its quarterly dividend to $0.975 per share, up from the previous $0.88, with a scheduled payment on October 2nd.
• Analysts have adjusted their price targets on Broadridge shares, with UBS Group increasing its target from $250 to $280 and Needham & Company LLC from $300 to $305.

Ascent Group LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,234 shares of the business services provider's stock, valued at approximately $299,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $29,000. Whipplewood Advisors LLC boosted its stake in Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after acquiring an additional 131 shares in the last quarter. Continuum Advisory LLC grew its holdings in Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock worth $35,000 after purchasing an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

BR has been the topic of several research analyst reports. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Needham & Company LLC upped their price objective 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. Finally, Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and an average target price of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $2.49 during trading hours on Wednesday, hitting $248.10. The company's stock had a trading volume of 71,426 shares, compared to its average volume of 590,389. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $252.00 and a 200 day moving average of $242.21. Broadridge Financial Solutions, Inc. has a 12-month low of $207.21 and a 12-month high of $271.91. The stock has a market cap of $29.06 billion, a PE ratio of 35.02 and a beta of 0.96.

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

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.6%. Broadridge Financial Solutions's dividend payout ratio is presently 55.01%.

Insider Buying and Selling at Broadridge Financial Solutions

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

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.