Bank of America Corp DE Cuts Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Bank of America reduced its Broadridge stake by 19.4% in the first quarter, selling 137,235 shares and retaining 568,358 shares worth approximately $92.3 million. Institutional investors and hedge funds still 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. The company also raised its quarterly dividend to $1.09, representing a 2.6% annualized yield.
• Analyst sentiment remains moderately positive, with four Buy and four Hold ratings and a consensus price target of $213.71, compared with the stock’s reported price of $166.47.

Bank of America Corp DE cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 568,358 shares of the business services provider's stock after selling 137,235 shares during the quarter. Bank of America Corp DE owned 0.49% of Broadridge Financial Solutions worth $92,347,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BR. Edgestream Partners L.P. purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at about $2,229,000. Bull Harbor Capital LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at about $209,000. South Dakota Investment Council purchased a new stake in Broadridge Financial Solutions in the 1st quarter valued at approximately $764,000. Smith Group Asset Management LLC purchased a new stake in Broadridge Financial Solutions in the 1st quarter valued at approximately $301,000. Finally, Amundi increased its position in Broadridge Financial Solutions by 67.5% during the 1st quarter. Amundi now owns 1,059,021 shares of the business services provider's stock worth $172,070,000 after purchasing an additional 426,587 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

BR stock opened at $166.47 on Friday. The firm has a 50 day moving average of $148.26 and a 200-day moving average of $162.88. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 17.30 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 0.94 and a debt-to-equity ratio of 1.15. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $268.17.

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

Broadridge Financial Solutions Increases Dividend

The company 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 $1.09 dividend. This is an increase 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%. The ex-dividend date is Thursday, September 3rd. Broadridge Financial Solutions's dividend payout ratio (DPR) is 45.32%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the transaction, the insider owned 1 shares of the company's stock, valued at $155. The trade was a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BR has been the subject of a number of analyst reports. Needham & Company LLC cut their target price on 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. DA Davidson decreased their price target on Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. UBS Group dropped their price objective on Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Royal Bank Of Canada raised their target price on Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of "Moderate Buy" and a consensus price target of $213.71.

Broadridge Financial Solutions 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.

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