Broadridge Financial Solutions, Inc. $BR Stock Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors cut its Broadridge stake by 61.6% in the third quarter, selling 135,815 shares and retaining 84,730 shares valued at approximately $13.65 million.
• Broadridge reported quarterly EPS of $3.82, exceeding estimates of $3.76, while revenue rose 7.5% year over year to $2.22 billion. The company also increased its quarterly dividend to $1.09, implying a 2.4% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $216 versus the stock’s reported $183.29 opening price.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 61.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,730 shares of the business services provider's stock after selling 135,815 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.08% of Broadridge Financial Solutions worth $13,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. lifted its holdings in shares of Broadridge Financial Solutions by 230.8% in the third quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider's stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Security National Bank of SO Dak acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $26,000. Markowski Investments acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $27,000. Bell Investment Advisors Inc acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $29,000. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $36,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the subject of several research reports. UBS Group restated a "neutral" rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Royal Bank Of Canada upped their target price 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. Morgan Stanley increased their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $216.00.

Broadridge Financial Solutions Trading Up 0.0%

Broadridge Financial Solutions stock opened at $183.29 on Monday. The stock has a 50-day moving average price of $171.09 and a 200 day moving average price of $158.54. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $235.27. The stock has a market cap of $20.69 billion, a PE ratio of 19.05 and a beta of 0.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15.

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

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd were given a $1.09 dividend. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.9750. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 3rd. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 45.32%.

Insider Activity

In related news, VP Thomas Carey sold 2,501 shares of the company's 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 of the company's stock, valued at approximately $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.00% of the company's stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc NYSE: BR is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company's offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.

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