MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Broadridge Financial Solutions by 12.3%, selling 3,146 shares and now holding 22,523 shares valued at approximately $5.46 million.
• Broadridge Financial Solutions reported $3.55 earnings per share for the recent quarter, exceeding estimates, with revenues of $2.07 billion reflecting a 6.2% year-over-year increase.
• The company announced an increase in its quarterly dividend to $0.975, representing a 1.5% yield and a total annualized distribution of $3.90.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,523 shares of the business services provider's stock after selling 3,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Broadridge Financial Solutions were worth $5,461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock worth $3,572,199,000 after buying an additional 438,381 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Broadridge Financial Solutions by 2.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock worth $409,662,000 after buying an additional 39,846 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in Broadridge Financial Solutions by 3.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider's stock worth $283,278,000 after buying an additional 38,527 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadridge Financial Solutions by 15.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,043,126 shares of the business services provider's stock worth $235,840,000 after buying an additional 138,207 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Broadridge Financial Solutions by 577.9% in the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock valued at $251,513,000 after purchasing an additional 883,125 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 0.8%

Shares of NYSE:BR traded down $2.12 on Monday, hitting $249.91. 405,616 shares of the company's stock were exchanged, compared to its average volume of 593,769. The firm's 50-day moving average is $251.65 and its 200 day moving average is $242.13. The company has a market capitalization of $29.27 billion, a PE ratio of 35.25 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1-year low of $207.21 and a 1-year high of $271.91. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period in the prior year, the firm posted $3.50 EPS. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current 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 issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.01%.

Analyst Ratings Changes

BR has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC lifted their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. 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 note 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 note on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Hold" and a consensus target price of $261.50.

Insider Activity

In other news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction dated 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 completion of the sale, the president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company's stock, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 over the last three months. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Company 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.