T. Rowe Price Investment Management Inc. Has $543.59 Million Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• T. Rowe Price Investment Management Inc. has cut its position in Broadridge Financial Solutions by 10.2%, reducing its shares to 2,241,986 after selling 253,421 shares in the first quarter.
• Broadridge Financial Solutions reported a quarterly earnings per share of $3.55, surpassing expectations and indicating a 6.2% increase in revenue compared to the same period last year.
• The company has announced a quarterly dividend of $0.975 per share, up from the previous $0.88, reflecting a growing commitment to return capital to shareholders.

T. Rowe Price Investment Management Inc. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,241,986 shares of the business services provider's stock after selling 253,421 shares during the period. T. Rowe Price Investment Management Inc. owned 1.91% of Broadridge Financial Solutions worth $543,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. D.A. Davidson & CO. acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at $217,000. CWA Asset Management Group LLC lifted its position in Broadridge Financial Solutions by 6.8% in the 1st quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock valued at $332,000 after acquiring an additional 87 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the 1st quarter valued at $29,000. Sequoia Financial Advisors LLC lifted its position in Broadridge Financial Solutions by 9.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock worth $279,000 after buying an additional 101 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Broadridge Financial Solutions by 12.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock worth $159,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the company'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 transaction, the chief executive officer owned 165,634 shares in the company, valued at approximately $42,986,992.02. This represents a 33.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares in the company, valued at approximately $5,070,554.85. This trade represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,470 shares of company stock worth $39,026,774 in the last quarter. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on BR. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. UBS Group boosted their price target on shares of 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 boosted their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Morgan Stanley boosted their price target on shares of 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. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded up $1.1680 during trading on Friday, hitting $261.9980. 651,183 shares of the stock were exchanged, compared to its average volume of 931,132. The stock has a market capitalization of $30.69 billion, a price-to-earnings ratio of 36.95 and a beta of 0.94. The company has a fifty day moving average price of $247.47 and a 200-day moving average price of $240.57. Broadridge Financial Solutions, Inc. has a 1-year low of $206.95 and a 1-year high of $271.91. 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 released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Broadridge Financial Solutions's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.50 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. The ex-dividend date is Thursday, September 11th. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 49.65%.

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.