Truist Financial Corp Reduces Stock Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• Truist Financial Corp has reduced its stake in Broadridge Financial Solutions by 5.9%, resulting in ownership of approximately 86,650 shares valued at $21.06 million.
• Broadridge Financial Solutions recently announced an increase in its quarterly dividend to $0.975 per share, up from $0.88, representing an annualized payout of $3.90.
• Analysts are bullish on Broadridge, with several firms upgrading their ratings and raising target prices, contributing to a consensus rating of "Hold" and a target price of $261.50.

Truist Financial Corp cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,650 shares of the business services provider's stock after selling 5,428 shares during the period. Truist Financial Corp owned approximately 0.07% of Broadridge Financial Solutions worth $21,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC increased its holdings in Broadridge Financial Solutions by 8.5% in the second quarter. V Square Quantitative Management LLC now owns 2,967 shares of the business services provider's stock valued at $721,000 after buying an additional 233 shares in the last quarter. Addenda Capital Inc. increased its stake in shares of Broadridge Financial Solutions by 2.0% during the 2nd quarter. Addenda Capital Inc. now owns 52,210 shares of the business services provider's stock worth $12,728,000 after purchasing an additional 1,002 shares in the last quarter. Crown Oak Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 0.6% during the 2nd quarter. Crown Oak Advisors LLC now owns 38,092 shares of the business services provider's stock worth $9,257,000 after purchasing an additional 244 shares in the last quarter. LVW Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 19.5% during the 2nd quarter. LVW Advisors LLC now owns 5,226 shares of the business services provider's stock worth $1,270,000 after purchasing an additional 854 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Broadridge Financial Solutions by 13.4% during the 2nd quarter. Signaturefd LLC now owns 2,045 shares of the business services provider's stock worth $497,000 after purchasing an additional 242 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BR shares. Weiss Ratings reissued a "buy (b)" rating on shares of Broadridge Financial Solutions in a research note on Saturday, September 27th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Needham & Company LLC raised their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, UBS Group raised their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Hold" and a consensus target price of $261.50.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 84,571 shares of Broadridge Financial Solutions stock in a transaction on 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 $42,986,992.02. This trade represents a 33.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,532 shares of company stock worth $38,417,208. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Up 0.4%

Shares of NYSE BR opened at $234.70 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The firm's 50 day moving average price is $251.32 and its 200 day moving average price is $242.53. The firm has a market cap of $27.49 billion, a P/E ratio of 33.10 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98.

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 analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $3.50 earnings per share. Broadridge Financial Solutions'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. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a $0.975 dividend. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.01%.

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.

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