Reynders McVeigh Capital Management LLC Takes $11.98 Million Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Reynders McVeigh Capital Management acquired 87,447 Broadridge Financial Solutions shares worth approximately $11.98 million, while institutional investors collectively own 90.03% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $216; ratings are split between four Buys and four Holds.
• Broadridge exceeded quarterly earnings and revenue expectations, with revenue rising 7.5% year over year, and increased its quarterly dividend from $0.97 to $1.09 per share.

Reynders McVeigh Capital Management LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 87,447 shares of the business services provider's stock, valued at approximately $11,976,000. Reynders McVeigh Capital Management LLC owned about 0.08% of Broadridge Financial Solutions at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in Broadridge Financial Solutions by 98.7% during the second quarter. Tidal Investments LLC now owns 104,615 shares of the business services provider's stock worth $14,327,000 after purchasing an additional 51,975 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its stake in Broadridge Financial Solutions by 32.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,011 shares of the business services provider's stock valued at $275,000 after buying an additional 494 shares during the period. NewEdge Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 1.2% in the second quarter. NewEdge Advisors LLC now owns 15,192 shares of the business services provider's stock valued at $2,081,000 after buying an additional 180 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Broadridge Financial Solutions by 11.8% during the 2nd quarter. IFP Advisors Inc now owns 2,107 shares of the business services provider's stock worth $289,000 after acquiring an additional 222 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Broadridge Financial Solutions by 97.7% during the 2nd quarter. Squarepoint Ops LLC now owns 139,172 shares of the business services provider's stock worth $19,060,000 after acquiring an additional 68,762 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BR. UBS Group reaffirmed a "neutral" rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Finally, Royal Bank Of Canada raised their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of "Moderate Buy" and an average target price of $216.00.

Broadridge Financial Solutions Stock Performance

BR traded down $4.13 during trading on Tuesday, hitting $170.26. The stock had a trading volume of 945,822 shares, compared to its average volume of 1,398,485. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day moving average price of $164.61 and a 200-day moving average price of $160.15. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $250.26. The firm has a market cap of $19.41 billion, a price-to-earnings ratio of 17.70 and a beta of 0.90.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping analysts' consensus estimates of $3.76 by $0.06. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The company's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $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 predict that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be issued a $1.09 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.6%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's payout ratio is presently 45.32%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc NYSE: BR is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company's offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.

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