Van ECK Associates Corp lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,875,684 shares of the business services provider's stock after buying an additional 190,301 shares during the period. Van ECK Associates Corp owned approximately 1.65% of Broadridge Financial Solutions worth $256,875,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $580,000. Empowered Funds LLC raised its stake in shares of Broadridge Financial Solutions by 41.5% in the 1st quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider's stock worth $959,000 after buying an additional 1,160 shares in the last quarter. Woodline Partners LP raised its stake in shares of Broadridge Financial Solutions by 6.9% in the 1st quarter. Woodline Partners LP now owns 9,886 shares of the business services provider's stock worth $2,397,000 after buying an additional 635 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 480.8% in the first quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider's stock valued at $616,000 after buying an additional 2,106 shares during the period. Finally, Cerity Partners LLC boosted its stake in Broadridge Financial Solutions by 8.5% during the second quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider's stock valued at $6,203,000 after buying an additional 2,004 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.
Broadridge Financial Solutions Stock Up 0.3%
BR stock opened at $183.54 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $20.93 billion, a P/E ratio of 19.08 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $258.70. The company's 50 day simple moving average is $157.05 and its 200-day simple moving average is $160.32.
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.06. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.
Broadridge Financial Solutions Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 2.4%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.97. The ex-dividend date is Thursday, September 3rd. Broadridge Financial Solutions's dividend payout ratio is presently 40.54%.
Insiders Place Their Bets
In other news, insider Hope M. Jarkowski sold 1,966 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 1 shares of the company's stock, valued at $155. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
BR has been the subject of a number of research analyst reports. DA Davidson cut their price target on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. UBS Group reiterated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research note on Friday, August 7th. Morgan Stanley raised 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. Finally, Needham & Company LLC dropped their price target on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $215.86.
View Our Latest Analysis on BR
About Broadridge Financial Solutions
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).
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