Alliancebernstein L.P. Purchases 28,243 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Alliancebernstein L.P. increased its stake in Broadridge Financial Solutions by 5.9%, holding 504,372 shares worth approximately $122.29 million at the end of the last quarter.
• Broadridge Financial Solutions recently raised its quarterly dividend from $0.88 to $0.975 per share, representing an annualized total of $3.90 and a dividend yield of 1.5%.
• Multiple analysts have set new price targets for Broadridge Financial Solutions, with estimates ranging from $259.00 to $305.00, indicating a consensus rating of "Hold" with an average target of $261.50.

Alliancebernstein L.P. raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,372 shares of the business services provider's stock after purchasing an additional 28,243 shares during the period. Alliancebernstein L.P. owned approximately 0.43% of Broadridge Financial Solutions worth $122,290,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $580,000. Ameriprise Financial Inc. increased its holdings in Broadridge Financial Solutions by 2.1% in the 4th quarter. Ameriprise Financial Inc. now owns 152,813 shares of the business services provider's stock worth $34,560,000 after purchasing an additional 3,177 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Broadridge Financial Solutions in the fourth quarter valued at about $212,000. Cetera Investment Advisers grew its holdings in shares of Broadridge Financial Solutions by 19.4% during the fourth quarter. Cetera Investment Advisers now owns 28,285 shares of the business services provider's stock worth $6,395,000 after purchasing an additional 4,605 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Broadridge Financial Solutions by 8.0% in the fourth quarter. Deutsche Bank AG now owns 466,288 shares of the business services provider's stock valued at $105,423,000 after buying an additional 34,734 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BR. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. UBS Group increased their price objective on 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 raised their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average target price of $261.50.

Broadridge Financial Solutions Stock Down 0.4%

NYSE:BR traded down $1.02 on Tuesday, hitting $252.41. The stock had a trading volume of 482,318 shares, compared to its average volume of 594,838. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 52 week low of $207.21 and a 52 week high of $271.91. The business's fifty day moving average is $250.80 and its 200 day moving average is $241.69. The company has a market cap of $29.56 billion, a PE ratio of 35.60 and a beta of 0.96.

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

Broadridge Financial Solutions Increases Dividend

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

Insider Transactions at Broadridge Financial Solutions

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

About Broadridge Financial Solutions

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.