Raymond James Financial Inc. Has $94.92 Million Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Raymond James Financial Inc. reduced its stake in Broadridge Financial Solutions by 15.3%, selling 70,572 shares to hold 391,483 shares valued at approximately $94.9 million.
• Broadridge Financial Solutions recently reported $3.55 earnings per share for Q2, surpassing analyst estimates by $0.04, and achieved $2.07 billion in revenue, representing a 6.2% increase year-over-year.
• The company announced a quarterly dividend increase to $0.975 per share, up from the previous $0.88, reflecting a growth strategy and resulting in an annualized dividend yield of 1.5%.

Raymond James Financial Inc. reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391,483 shares of the business services provider's stock after selling 70,572 shares during the quarter. Raymond James Financial Inc. owned 0.33% of Broadridge Financial Solutions worth $94,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at approximately $29,000. Whipplewood Advisors LLC lifted its stake in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth $34,000. Continuum Advisory LLC lifted its stake in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider's stock worth $35,000 after purchasing an additional 117 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $1.1680 during trading hours on Friday, reaching $261.9980. 651,183 shares of the company's stock traded hands, compared to its average volume of 931,132. The business's fifty day simple moving average is $247.47 and its two-hundred day simple moving average is $240.57. The firm has a market capitalization of $30.69 billion, a price-to-earnings ratio of 36.95 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a twelve month low of $206.95 and a twelve month high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.Broadridge Financial Solutions's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.50 earnings per share. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share 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. Investors of record on Thursday, September 11th will be issued a dividend of $0.975 per share. 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. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio is presently 49.65%.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares in the company, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares of the company's stock, valued at $5,070,554.85. This trade 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 valued at $39,026,774 in the last three months. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several analyst reports. UBS Group increased their target price on 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 increased their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Morgan Stanley increased their target price on 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. Finally, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $261.50.

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.