United Services Automobile Association Takes Position in Broadridge Financial Solutions, Inc. $BR

Key Points

• United Services Automobile Association has acquired a new position in Broadridge Financial Solutions, purchasing 2,405 shares valued at approximately $571,000 during the first quarter of 2023.
• Broadridge Financial Solutions reported a quarterly earnings per share of $3.55, surpassing analyst expectations, with revenue increasing by 6.2% year-over-year.
• The company has announced a quarterly dividend increase to $0.975, reflecting its commitment to returning value to shareholders amidst steady growth.

United Services Automobile Association bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,405 shares of the business services provider's stock, valued at approximately $571,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. GAMMA Investing LLC boosted its stake in shares of Broadridge Financial Solutions by 31,011.4% in the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after buying an additional 986,782 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Broadridge Financial Solutions by 28,222.6% in the 1st quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider's stock worth $230,254,000 after buying an additional 946,304 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Broadridge Financial Solutions by 577.9% in the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock worth $251,513,000 after buying an additional 883,125 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock worth $3,572,199,000 after buying an additional 438,381 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $91,445,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 84,571 shares of the company's 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 of the company's stock, valued at approximately $42,986,992.02. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was 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 directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,532 shares of company stock worth $38,417,208. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Stock Performance

BR stock traded down $2.81 during midday trading on Friday, reaching $252.01. 547,705 shares of the company's stock traded hands, compared to its average volume of 618,070. The company has a 50-day moving average price of $251.65 and a two-hundred day moving average price of $242.06. 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, Inc. has a 52 week low of $207.21 and a 52 week high of $271.91. The firm has a market capitalization of $29.52 billion, a PE ratio of 35.54 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results 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. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The business's revenue for the quarter 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, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. Broadridge Financial Solutions's payout ratio is currently 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.