3,605 Broadridge Financial Solutions, Inc. $BR Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.8% in the third quarter, Holdings Channel reports. The institutional investor owned 49,672 shares of the business services provider’s stock after selling 3,605 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Broadridge Financial Solutions were worth $8,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BR. Envestnet Portfolio Solutions Inc. grew its holdings in Broadridge Financial Solutions by 218.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after acquiring an additional 10,266 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth about $959,000. Strs Ohio raised its stake in shares of Broadridge Financial Solutions by 25.8% in the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock valued at $7,927,000 after purchasing an additional 9,996 shares in the last quarter. Andra AP fonden raised its stake in shares of Broadridge Financial Solutions by 96.5% in the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock valued at $23,385,000 after purchasing an additional 83,857 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $4,211,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $186.26 on Friday. The company has a market cap of $21.03 billion, a PE ratio of 19.36 and a beta of 0.92. The company has a fifty day moving average price of $170.84 and a two-hundred day moving average price of $158.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $236.02.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.06. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were paid a $1.09 dividend. The ex-dividend date was Thursday, September 3rd. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. This represents a $4.36 dividend on an annualized basis and a yield of 2.3%. Broadridge Financial Solutions’s payout ratio is presently 45.32%.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. This represents a 22.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on BR. Weiss Ratings raised shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada boosted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, UBS Group restated a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.