Parnassus Investments LLC Sells 15,750 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• Parnassus Investments reduced its Broadridge Financial Solutions stake by 4.1% in the fourth quarter, selling 15,750 shares and leaving it with 364,623 shares worth about $81.4 million.
• Broadridge reported better-than-expected quarterly results, with EPS of $2.72 versus $2.63 expected and revenue of $1.95 billion versus $1.90 billion estimated. The company also raised its FY2026 EPS guidance to 9.41–9.58.
• The company announced a quarterly dividend of $0.975 per share, payable July 2, for an annualized yield of about 2.7%. Meanwhile, analysts still rate the stock a Moderate Buy with a consensus price target of $221.57.

Parnassus Investments LLC cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364,623 shares of the business services provider's stock after selling 15,750 shares during the period. Parnassus Investments LLC owned about 0.31% of Broadridge Financial Solutions worth $81,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BR. Nemes Rush Group LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at $27,000. WPG Advisers LLC raised its position in Broadridge Financial Solutions by 77.5% during the 4th quarter. WPG Advisers LLC now owns 142 shares of the business services provider's stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at $39,000. Fulcrum Asset Management LLP bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $47,000. Finally, Osterweis Capital Management Inc. bought a new stake in Broadridge Financial Solutions during the 2nd quarter valued at $48,000. 90.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,966 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Down 1.1%

BR opened at $144.88 on Friday. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 15.51 and a beta of 0.88. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.97. Broadridge Financial Solutions, Inc. has a 12 month low of $139.79 and a 12 month high of $271.91. The stock has a fifty day moving average price of $153.92 and a 200-day moving average price of $185.07.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.63 by $0.09. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.410-9.580 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, June 12th. Broadridge Financial Solutions's payout ratio is 41.76%.

Analysts Set New Price Targets

BR has been the subject of several recent research reports. Weiss Ratings lowered Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Needham & Company LLC reduced their price target on Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, May 1st. DA Davidson reduced their price target on Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Royal Bank Of Canada reduced their price target on Broadridge Financial Solutions from $245.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Finally, UBS Group reduced their price target on Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $221.57.

About Broadridge Financial Solutions

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.