Broadridge Financial Solutions, Inc. $BR Stock Purchased by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue increased its Broadridge stake by 386.2% in the third quarter, adding 57,660 shares for a total of 72,592 shares valued at approximately $11.7 million. Institutional investors collectively own 90.03% of the company.
• Broadridge reported quarterly earnings of $3.82 per share, topping estimates of $3.76, while revenue rose 7.5% year over year to $2.22 billion. The company also raised its quarterly dividend to $1.09, representing a 2.5% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $216, compared with the stock’s reported price of $173.96; four analysts rate it Buy and four rate it Hold.

State of Alaska Department of Revenue raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 386.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,592 shares of the business services provider's stock after purchasing an additional 57,660 shares during the period. State of Alaska Department of Revenue owned 0.06% of Broadridge Financial Solutions worth $11,695,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BR. BlackRock Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $1,473,918,000. Jupiter Topco LLC acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $261,852,000. Van ECK Associates Corp grew its stake in Broadridge Financial Solutions by 11.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider's stock valued at $256,875,000 after buying an additional 190,301 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $197,921,000. Finally, Amundi raised its holdings in Broadridge Financial Solutions by 67.5% in the 1st quarter. Amundi now owns 1,059,021 shares of the business services provider's stock valued at $172,070,000 after acquiring an additional 426,587 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Up 3.4%

BR opened at $173.96 on Friday. The stock has a fifty day moving average of $169.99 and a 200-day moving average of $157.78. The company has a market capitalization of $19.64 billion, a P/E ratio of 18.08 and a beta of 0.92. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $236.02. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24.

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 EPS for the quarter, beating the consensus estimate of $3.76 by $0.06. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the company posted $3.55 earnings per share. Broadridge Financial Solutions'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. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were issued a $1.09 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.5%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. Broadridge Financial Solutions's payout ratio is presently 45.32%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 8,800 shares in the company, valued at $1,405,888. This represents a 22.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BR. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Finally, Royal Bank Of Canada increased their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.00.

About Broadridge Financial Solutions

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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