EP Wealth Advisors LLC Makes New $20.85 Million Investment in Broadridge Financial Solutions, Inc. $BR

EP Wealth Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 152,268 shares of the business services provider's stock, valued at approximately $20,853,000. EP Wealth Advisors LLC owned approximately 0.13% of Broadridge Financial Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $1,473,918,000. State Street Corp increased its position in shares of Broadridge Financial Solutions by 6.7% in the 4th quarter. State Street Corp now owns 5,994,841 shares of the business services provider's stock valued at $1,343,572,000 after acquiring an additional 375,699 shares during the period. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,354,869 shares of the business services provider's stock worth $746,062,000 after acquiring an additional 12,524 shares during the last quarter. Barclays PLC lifted its position in Broadridge Financial Solutions by 1.8% during the 4th quarter. Barclays PLC now owns 2,007,968 shares of the business services provider's stock worth $448,118,000 after acquiring an additional 35,169 shares during the period. Finally, Northern Trust Corp lifted its position in Broadridge Financial Solutions by 6.6% during the 3rd quarter. Northern Trust Corp now owns 1,711,824 shares of the business services provider's stock worth $407,705,000 after acquiring an additional 105,696 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BR. DA Davidson dropped their price target on Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Needham & Company LLC reduced their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada lifted their target price on Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $215.86.

Insider Buying and Selling

In related news, insider Hope M. Jarkowski sold 1,966 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the sale, the insider directly owned 1 shares of the company's stock, valued at $155. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $182.12 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $264.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 18.93 and a beta of 0.87. The firm's fifty day moving average is $152.70 and its two-hundred day moving average is $160.54.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced 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 company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be paid a $1.09 dividend. The ex-dividend date is Thursday, September 3rd. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.97. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.4%. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 40.54%.

Broadridge Financial Solutions Profile

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