Royal Bank of Canada Sells 13,104 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• The Royal Bank of Canada reduced its holdings in Broadridge Financial Solutions by 3.9%, now owning 320,545 shares valued at approximately $77.7 million.
• Several institutional investors increased their positions in Broadridge, with Ameriprise Financial purchasing an additional 883,125 shares, raising their stake by 577.9%.
• Broadridge Financial Solutions announced a new quarterly dividend of $0.975 per share, an increase from the previous $0.88, reflecting the company's strong financial health.

Royal Bank of Canada lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,545 shares of the business services provider's stock after selling 13,104 shares during the period. Royal Bank of Canada owned about 0.27% of Broadridge Financial Solutions worth $77,718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter valued at about $432,000. Second Line Capital LLC boosted its stake in shares of Broadridge Financial Solutions by 3.5% during the first quarter. Second Line Capital LLC now owns 13,691 shares of the business services provider's stock valued at $3,331,000 after purchasing an additional 464 shares in the last quarter. Junto Capital Management LP boosted its stake in shares of Broadridge Financial Solutions by 60.9% during the first quarter. Junto Capital Management LP now owns 264,411 shares of the business services provider's stock valued at $64,109,000 after purchasing an additional 100,067 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Broadridge Financial Solutions by 57.4% during the first quarter. Vident Advisory LLC now owns 5,034 shares of the business services provider's stock valued at $1,221,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Broadridge Financial Solutions by 45.9% during the first quarter. Canada Pension Plan Investment Board now owns 179,468 shares of the business services provider's stock valued at $43,514,000 after purchasing an additional 56,467 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 0.5%

Broadridge Financial Solutions stock traded down $1.17 during trading on Friday, hitting $250.85. 541,825 shares of the company were exchanged, compared to its average volume of 640,508. The business's 50 day moving average is $250.59 and its 200 day moving average is $241.53. Broadridge Financial Solutions, Inc. has a 52 week low of $206.95 and a 52 week high of $271.91. The company has a market capitalization of $29.38 billion, a P/E ratio of 35.38 and a beta of 0.96. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS. 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 business also recently disclosed 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. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.6%. Broadridge Financial Solutions's payout ratio is currently 55.01%.

Analyst Ratings Changes

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

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company's stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the sale, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. The trade was a 33.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,532 shares of company stock valued at $38,417,208. 1.30% of the stock is owned by corporate insiders.

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.