Broadridge Financial Solutions, Inc. $BR Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in Broadridge Financial Solutions by 2.0%, selling 31,456 shares and owning 1.34% of the company, worth approximately $381 million.
• Broadridge Financial Solutions announced a quarterly dividend of $0.975 per share, to be paid on October 2nd, reflecting an increase from the previous quarterly dividend of $0.88.
• Several brokerages have raised their target prices for Broadridge Financial Solutions, with Morgan Stanley increasing it from $222 to $261, indicating a positive outlook for the stock.

Northern Trust Corp lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,573,327 shares of the business services provider's stock after selling 31,456 shares during the quarter. Northern Trust Corp owned about 1.34% of Broadridge Financial Solutions worth $381,469,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $217,000. CWA Asset Management Group LLC lifted its holdings 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 acquiring an additional 87 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $29,000. Sequoia Financial Advisors LLC lifted its holdings 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 acquiring an additional 101 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Broadridge Financial Solutions by 12.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares of the company's stock, valued at $12,824,151.36. This represents a 12.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the sale, the insider directly owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,470 shares of company stock worth $39,026,774 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Broadridge Financial Solutions Stock Up 0.4%

Shares of BR traded up $1.1680 during midday trading on Friday, hitting $261.9980. The company had a trading volume of 651,183 shares, compared to its average volume of 931,132. The company's 50 day moving average price is $247.47 and its 200 day moving average price is $240.57. The stock has a market cap of $30.69 billion, a price-to-earnings ratio of 36.95 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 52 week low of $206.95 and a 52 week high of $271.91. 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 (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 the consensus estimate 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 net margin of 12.19% and a return on equity of 42.72%. The company's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.50 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

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.