Navera Investment Management Ltd. Trims Stake in Broadridge Financial Solutions, Inc. $BR

Key Points

• Navera Investment Management Ltd. reduced its stake in Broadridge Financial Solutions by 0.3%, owning approximately 1,120,989 shares valued at $272,335,000, making it the firm's 11th largest holding.
• Broadridge Financial Solutions recently declared a quarterly dividend of $0.975, which is an increase from the previous dividend of $0.88, representing a yield of 1.6%.
• Analyst ratings for Broadridge vary, with UBS raising the target price to $280 and Needham increasing it to $305, while the stock currently holds a consensus rating of "Hold" with an average price target of $261.50.

Navera Investment Management Ltd. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,120,989 shares of the business services provider's stock after selling 2,876 shares during the period. Broadridge Financial Solutions makes up 5.0% of Navera Investment Management Ltd.'s portfolio, making the stock its 11th biggest holding. Navera Investment Management Ltd. owned about 0.95% of Broadridge Financial Solutions worth $272,335,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $217,000. CWA Asset Management Group LLC grew its position in shares of Broadridge Financial Solutions by 6.8% during 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 purchasing an additional 87 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $29,000. Sequoia Financial Advisors LLC grew its position in shares of Broadridge Financial Solutions by 9.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock valued at $279,000 after purchasing an additional 101 shares in the last quarter. Finally, Triangle Securities Wealth Management purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $784,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BR has been the subject of several research reports. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Broadridge Financial Solutions in a research report on Saturday, September 27th. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $236.71 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $27.63 billion, a PE ratio of 33.39 and a beta of 0.95. The firm has a fifty day simple moving average of $250.76 and a two-hundred day simple moving average of $242.62. Broadridge Financial Solutions, Inc. has a twelve month low of $208.20 and a twelve month high of $271.91.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a $0.975 dividend. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions's payout ratio is presently 55.01%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were 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 $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 5,674 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the transaction, the chief executive officer directly owned 143,285 shares of the company's stock, valued at approximately $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock valued at $38,417,208 over the last three months. 1.10% of the stock is currently owned by insiders.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.