Broadridge Financial Solutions, Inc. $BR Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in Broadridge Financial Solutions by 4.2%, owning 43,863 shares worth approximately $10.6 million after selling 1,908 shares in the first quarter of the year.
• Broadridge Financial Solutions reported earnings per share of $3.55, exceeding the consensus estimate, with a quarterly revenue of $2.07 billion, marking a 6.2% increase year-over-year.
• The company announced a quarterly dividend increase to $0.975, with an annual yield of 1.5%, payable to shareholders on October 2nd, reflecting a positive trend in returns for investors.

Comerica Bank reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,863 shares of the business services provider's stock after selling 1,908 shares during the quarter. Comerica Bank's holdings in Broadridge Financial Solutions were worth $10,635,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Broadridge Financial Solutions by 31,011.4% in the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock valued at $240,027,000 after purchasing an additional 986,782 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Broadridge Financial Solutions by 577.9% in the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock valued at $251,513,000 after purchasing an additional 883,125 shares during the period. Vanguard Group Inc. boosted its position in shares of Broadridge Financial Solutions by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after purchasing an additional 438,381 shares during the period. Nuveen LLC acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $91,445,000. Finally, Northern Trust Corp boosted its position in shares of Broadridge Financial Solutions by 24.4% in the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after purchasing an additional 314,323 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on BR shares. Needham & Company LLC upped their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $261.50.

Broadridge Financial Solutions Price Performance

Shares of BR traded down $1.12 on Friday, reaching $255.95. The stock had a trading volume of 817,491 shares, compared to its average volume of 775,535. The firm has a market capitalization of $29.98 billion, a PE ratio of 36.10 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average of $249.38 and a 200 day moving average of $241.11. Broadridge Financial Solutions, Inc. has a twelve month low of $206.95 and a twelve month high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly 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. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 151,088 shares of company stock worth $39,281,601 in the last quarter. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions 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.