Integrated Wealth Concepts LLC Has $839,000 Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Integrated Wealth Concepts LLC cut its Broadridge Financial Solutions stake by 90.9% in the second quarter, selling 61,129 shares and retaining 6,129 shares valued at approximately $839,000. Institutional investors collectively own 90.03% of the company.
• Broadridge reported quarterly EPS of $3.82, beating estimates of $3.76, while revenue rose 7.5% year over year to $2.22 billion. The company also increased its quarterly dividend to $1.09 per share, equivalent to a 2.7% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $216, compared with the stock’s reported price of $162.99.

Integrated Wealth Concepts LLC decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 90.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,129 shares of the business services provider's stock after selling 61,129 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Broadridge Financial Solutions were worth $839,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $1,473,918,000. Jupiter Topco LLC acquired a new position in shares of Broadridge Financial Solutions in the second quarter worth $261,852,000. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $346,304,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth $197,921,000. Finally, Van ECK Associates Corp boosted its position in Broadridge Financial Solutions by 110.6% during the fourth quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider's stock valued at $329,239,000 after purchasing an additional 774,747 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 0.8%

NYSE BR opened at $162.99 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $243.82. The firm has a market cap of $18.58 billion, a PE ratio of 16.94 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. The stock's 50 day simple moving average is $166.10 and its 200 day simple moving average is $159.86.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the business posted $3.55 earnings per share. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 2.7%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Thursday, September 3rd. Broadridge Financial Solutions's payout ratio is currently 45.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BR shares. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, August 6th. Royal Bank Of Canada raised their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. UBS Group reissued a "neutral" rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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