Earnest Partners LLC Sells 9,774 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Earnest Partners LLC reduced its holdings in Broadridge Financial Solutions by 2.6%, selling 9,774 shares, and now owns 363,914 shares valued at approximately $88.23 million.
• Broadridge Financial Solutions reported a quarterly earnings per share (EPS) of $3.55, surpassing analysts' estimates and showing a 6.2% increase in revenue from the previous year.
• The company announced a quarterly dividend of $0.975, which marks an increase from the previous $0.88 dividend, representing an annualized yield of 1.5%.

Earnest Partners LLC lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,914 shares of the business services provider's stock after selling 9,774 shares during the quarter. Earnest Partners LLC owned approximately 0.31% of Broadridge Financial Solutions worth $88,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at $217,000. CWA Asset Management Group LLC boosted its stake in Broadridge Financial Solutions by 6.8% in the 1st quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock valued at $332,000 after buying an additional 87 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at $29,000. Sequoia Financial Advisors LLC boosted its stake in Broadridge Financial Solutions by 9.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock valued at $279,000 after buying an additional 101 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Broadridge Financial Solutions by 12.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC boosted their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, UBS Group lifted their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $261.50.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 5,674 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,088 shares of company stock worth $39,281,601 over the last 90 days. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

BR traded down $1.12 during trading on Friday, hitting $255.95. The company's stock had a trading volume of 817,491 shares, compared to its average volume of 775,535. The firm's 50 day moving average price is $249.38 and its two-hundred day moving average price is $241.11. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 12 month low of $206.95 and a 12 month high of $271.91. The stock has a market capitalization of $29.98 billion, a price-to-earnings ratio of 36.10 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.50 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given a dividend of $0.975 per share. The ex-dividend date is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio is presently 49.65%.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.