Citizens Financial Group Inc. RI Buys Shares of 29,735 Broadridge Financial Solutions, Inc. $BR

Key Points

• Citizens Financial Group acquired 29,735 Broadridge Financial Solutions shares worth approximately $4.1 million during the second quarter. Institutional investors and hedge funds collectively own 90.03% of BR.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $215.86; individual targets range from $176 to $230.
• Broadridge exceeded quarterly earnings and revenue estimates, reporting $3.82 in EPS and $2.22 billion in revenue, while raising its quarterly dividend from $0.97 to $1.09 per share.

Citizens Financial Group Inc. RI purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 29,735 shares of the business services provider's stock, valued at approximately $4,102,000.

A number of other institutional investors also recently bought and sold shares of BR. Reflection Asset Management acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $25,000. Nemes Rush Group LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at $27,000. Prosperity Bancshares Inc purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at $28,000. Bell Investment Advisors Inc acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $29,000. Finally, WPG Advisers LLC raised its stake in shares of Broadridge Financial Solutions by 77.5% during the 4th quarter. WPG Advisers LLC now owns 142 shares of the business services provider's stock valued at $32,000 after buying an additional 62 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Hope M. Jarkowski sold 1,966 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group restated a "neutral" rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday. Needham & Company LLC lowered their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Morgan Stanley raised their price objective on shares of 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. Royal Bank Of Canada lifted their target price on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.86.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $167.92 on Tuesday. The company has a fifty day simple moving average of $150.30 and a 200-day simple moving average of $160.91. The firm has a market capitalization of $19.15 billion, a price-to-earnings ratio of 17.46 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $265.37.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.06. The firm 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 company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm 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 anticipate 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 will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be paid a $1.09 dividend. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.6%. Broadridge Financial Solutions's dividend payout ratio is 45.32%.

About Broadridge Financial Solutions

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source