California State Teachers Retirement System Raises Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• California State Teachers Retirement System increased its Broadridge Financial Solutions stake by 13,091.8% in the second quarter, owning 26.6 million shares worth approximately $3.65 billion, or 23.35% of the company.
• Broadridge reported quarterly earnings of $3.82 per share and revenue of $2.22 billion, exceeding analyst expectations; revenue rose 7.5% year over year.
• The company raised its quarterly dividend to $1.09 per share, equivalent to an annualized $4.36 dividend and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $216.

California State Teachers Retirement System raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 13,091.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,629,243 shares of the business services provider's stock after buying an additional 26,427,381 shares during the quarter. California State Teachers Retirement System owned about 23.35% of Broadridge Financial Solutions worth $3,646,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Paralel Advisors LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $1,947,000. Wedmont Private Capital grew its holdings in Broadridge Financial Solutions by 33.4% in the second quarter. Wedmont Private Capital now owns 2,815 shares of the business services provider's stock worth $415,000 after purchasing an additional 705 shares during the period. Saudi Central Bank increased its stake in shares of Broadridge Financial Solutions by 89.6% during the second quarter. Saudi Central Bank now owns 8,172 shares of the business services provider's stock valued at $1,119,000 after purchasing an additional 3,863 shares in the last quarter. Compass Financial Management LLC purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at approximately $41,000. Finally, AlphaGrep UK Ltd purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at approximately $494,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $168.09 on Friday. The business's fifty day moving average price is $163.55 and its 200-day moving average price is $160.23. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 17.47 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $255.74.

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

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $1.09 per share. The ex-dividend date is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's dividend payout ratio is presently 45.32%.

Analyst Ratings Changes

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

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc NYSE: BR is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company's offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.

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