Wealthfront Advisers LLC acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,385 shares of the business services provider's stock, valued at approximately $874,000.
Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at $580,000. Empowered Funds LLC increased its position in Broadridge Financial Solutions by 41.5% during the 1st quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider's stock valued at $959,000 after purchasing an additional 1,160 shares during the period. Woodline Partners LP raised its holdings in Broadridge Financial Solutions by 6.9% in the 1st quarter. Woodline Partners LP now owns 9,886 shares of the business services provider's stock worth $2,397,000 after purchasing an additional 635 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Broadridge Financial Solutions by 480.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider's stock worth $616,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Broadridge Financial Solutions by 8.5% in the 2nd quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider's stock worth $6,203,000 after purchasing an additional 2,004 shares during the period. 90.03% of the stock is currently owned by institutional investors.
Broadridge Financial Solutions Stock Up 2.0%
BR stock opened at $182.12 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $133.83 and a twelve month high of $264.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a market cap of $20.77 billion, a PE ratio of 18.93 and a beta of 0.87. The business has a 50 day moving average of $152.70 and a 200 day moving average of $160.54.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $0.06. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the previous year, the business earned $3.55 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.
Broadridge Financial Solutions Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be given a $1.09 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.4%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's payout ratio is presently 40.54%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on BR shares. DA Davidson cut their target price on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Needham & Company LLC decreased their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Finally, Morgan Stanley upped their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of "Moderate Buy" and an average target price of $215.86.
Get Our Latest Report on Broadridge Financial Solutions
Insider Activity
In related news, insider Hope M. Jarkowski sold 1,966 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the transaction, the insider owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
About Broadridge Financial Solutions
(
Free Report)
Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm's core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.
Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.
Further Reading
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).
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