State of Alaska Department of Revenue Purchases 3,465 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• The State of Alaska Department of Revenue increased its holdings in Broadridge Financial Solutions by 25.2%, acquiring an additional 3,465 shares, bringing its total to 17,196 shares valued at approximately $4.18 million.
• Broadridge Financial Solutions announced a quarterly dividend increase to $0.975 per share, up from the previous $0.88, reflecting an annualized yield of 1.6%.
• Analysts have mixed ratings for Broadridge's stock with a consensus rating of "Hold," and price targets updated to range from $261.50 to as high as $305.00.

State of Alaska Department of Revenue boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 25.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,196 shares of the business services provider's stock after buying an additional 3,465 shares during the quarter. State of Alaska Department of Revenue's holdings in Broadridge Financial Solutions were worth $4,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at $29,000. Whipplewood Advisors LLC lifted its stake in Broadridge Financial Solutions by 2,620.0% in 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. Continuum Advisory LLC lifted its stake in Broadridge Financial Solutions by 48.4% in 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. Clal Insurance Enterprises Holdings Ltd boosted its position 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 valued at $35,000 after buying an additional 117 shares during the period. Finally, Olde Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at about $36,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BR shares. Needham & Company LLC boosted their target price 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. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Friday. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $261.50.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock worth $38,417,208 over the last ninety days. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $237.70 on Tuesday. The company has a 50-day simple moving average of $252.39 and a two-hundred day simple moving average of $242.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $27.84 billion, a PE ratio of 33.53 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a one year low of $208.20 and a one year high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company earned $3.50 EPS. The business's revenue was up 6.2% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.975 per share. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.6%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.01%.

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.

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