Broadridge Financial Solutions, Inc. $BR Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Broadridge stake by 657.6% in the third quarter, adding 30,426 shares to own 35,053 shares valued at approximately $5.65 million. Institutional investors collectively own 90.03% of the company.
• Broadridge exceeded quarterly expectations with adjusted earnings of $3.82 per share versus the $3.76 consensus, while revenue rose 7.5% year over year to $2.22 billion. The company also increased its quarterly dividend to $1.09 per share, yielding about 2.6%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $216, despite shares opening at $168.15. Recent insider activity included a vice president’s $399,560 sale made to cover tax withholding on vested equity awards.

First Citizens Bank & Trust Co. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 657.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,053 shares of the business services provider's stock after purchasing an additional 30,426 shares during the period. First Citizens Bank & Trust Co.'s holdings in Broadridge Financial Solutions were worth $5,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its stake in Broadridge Financial Solutions by 218.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider's stock worth $2,050,000 after acquiring an additional 10,266 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at $959,000. Strs Ohio lifted its holdings in shares of Broadridge Financial Solutions by 25.8% during the first quarter. Strs Ohio now owns 48,787 shares of the business services provider's stock valued at $7,927,000 after acquiring an additional 9,996 shares during the period. Andra AP fonden boosted its stake in shares of Broadridge Financial Solutions by 96.5% in the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider's stock valued at $23,385,000 after purchasing an additional 83,857 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at $4,211,000. Institutional investors own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of Broadridge Financial Solutions stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the sale, the vice president owned 8,800 shares of the company's stock, valued at approximately $1,405,888. The trade was a 22.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Down 0.2%

Shares of BR opened at $168.15 on Thursday. The stock's fifty day simple moving average is $169.80 and its 200-day simple moving average is $157.66. The firm has a market capitalization of $18.98 billion, a PE ratio of 17.48 and a beta of 0.92. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $236.02. The company has a quick ratio of 1.24, 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 quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping analysts' consensus estimates of $3.76 by $0.06. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The company's revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Thursday, September 3rd were paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. The ex-dividend date of this dividend was Thursday, September 3rd. Broadridge Financial Solutions's payout ratio is presently 45.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Royal Bank Of Canada raised their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a report on Monday, August 31st. UBS Group reiterated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Finally, Weiss Ratings raised Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.00.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company's services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.

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