Broadridge Financial Solutions, Inc. $BR Stock Sold by Bath Savings Trust Co

Key Points

• Bath Savings Trust Co. reduced its Broadridge Financial Solutions stake by 13% in the third quarter, selling 11,439 shares and retaining 76,815 shares valued at approximately $12.4 million. Institutional investors collectively own 90.03% of the company.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $216. Ratings range from “Hold” to “Outperform,” including RBC’s $226 target.
• Broadridge exceeded quarterly earnings and revenue expectations, reporting $3.82 in EPS and $2.22 billion in revenue. The company also raised its quarterly dividend to $1.09 per share, equivalent to a 2.7% yield.

Bath Savings Trust Co cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,815 shares of the business services provider's stock after selling 11,439 shares during the quarter. Broadridge Financial Solutions makes up 1.3% of Bath Savings Trust Co's investment portfolio, making the stock its 20th biggest holding. Bath Savings Trust Co owned about 0.07% of Broadridge Financial Solutions worth $12,375,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

BR has been the subject of several recent research reports. UBS Group reiterated a "neutral" rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.00.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $1.70 during trading hours on Wednesday, reaching $160.36. 800,711 shares of the stock were exchanged, compared to its average volume of 1,364,493. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $237.98. The stock has a market cap of $18.10 billion, a P/E ratio of 16.67 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The firm's 50 day moving average is $169.08 and its 200 day moving average is $157.76.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.06. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, September 3rd. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. Broadridge Financial Solutions's payout ratio is presently 45.32%.

Insider Activity

In other news, VP Thomas Carey sold 2,501 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares of the company's stock, valued at approximately $1,405,888. This represents a 22.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.00% of the company's stock.

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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