Daiichi Life Insurance Co. Ltd. acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,928 shares of the business services provider's stock, valued at approximately $949,000.
Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio lifted its position in shares of Broadridge Financial Solutions by 25.8% during the first 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 last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Broadridge Financial Solutions in the first quarter worth about $4,211,000. UNIVEST FINANCIAL Corp bought a new position in shares of Broadridge Financial Solutions in the first quarter worth about $8,227,000. Empowered Funds LLC increased its stake in Broadridge Financial Solutions by 29.9% in the 1st quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider's stock worth $7,869,000 after buying an additional 11,152 shares during the period. Finally, New Age Alpha Advisors LLC increased its stake in Broadridge Financial Solutions by 51.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider's stock worth $8,237,000 after buying an additional 12,569 shares during the period. Institutional investors own 90.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. DA Davidson decreased their price objective on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Morgan Stanley upped their target price 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. Needham & Company LLC reduced their target price on shares of 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. UBS Group reaffirmed a "neutral" rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $215.86.
Check Out Our Latest Stock Report on BR
Insider Activity at Broadridge Financial Solutions
In other news, insider Hope M. Jarkowski sold 1,966 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider owned 1 shares of the company's stock, valued at approximately $155. This represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.
Broadridge Financial Solutions Stock Performance
Shares of Broadridge Financial Solutions stock opened at $185.61 on Tuesday. The firm has a market cap of $21.16 billion, a P/E ratio of 19.29 and a beta of 0.87. 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, Inc. has a 12 month low of $133.83 and a 12 month high of $263.00. The stock's fifty day moving average price is $153.56 and its 200-day moving average price is $160.27.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data 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. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.
Broadridge Financial Solutions Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be issued a $1.09 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 40.54%.
Broadridge Financial Solutions Company Profile
(
Free Report)
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.
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