OMERS ADMINISTRATION Corp Invests $854,000 in Broadridge Financial Solutions, Inc. $BR

Key Points

• OMERS Administration Corp. acquired 6,239 Broadridge shares worth approximately $854,000 in the second quarter. Institutional investors own 90.03% of the company.
• Broadridge exceeded quarterly expectations, reporting $3.82 in adjusted EPS and $2.22 billion in revenue, up 7.5% year over year.
• The company raised its quarterly dividend from $0.97 to $1.09 per share, representing an annualized payout of $4.36 and a 2.4% yield; analysts maintain a “Moderate Buy” consensus with a $215.86 average price target.

OMERS ADMINISTRATION Corp bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,239 shares of the business services provider's stock, valued at approximately $854,000.

A number of other hedge funds have also added to or reduced their stakes in BR. Osmosis Investment Management UK Ltd bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $339,000. Sanctuary Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $1,511,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $338,000. Bank of Nova Scotia bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $51,883,000. Finally, Compass Financial Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $41,000. Institutional investors own 90.03% of the company's stock.

Insiders Place Their Bets

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

Broadridge Financial Solutions Stock Up 0.8%

BR opened at $183.06 on Friday. The stock's fifty day simple moving average is $156.12 and its 200 day simple moving average is $160.16. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $258.70. The stock has a market cap of $20.87 billion, a PE ratio of 19.03 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping analysts' consensus estimates of $3.76 by $0.06. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on BR. Royal Bank Of Canada increased their price target on Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. DA Davidson dropped their price objective 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 cut their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Morgan Stanley raised their target price on shares of 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Moderate Buy" and an average price target of $215.86.

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