Burns Matteson Capital Management LLC Acquires 5,058 Shares of Broadridge Financial Solutions, Inc. $BR

Burns Matteson Capital Management LLC acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,058 shares of the business services provider’s stock, valued at approximately $815,000.

A number of other hedge funds have also bought and sold shares of BR. BlackRock Inc. bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $1,473,918,000. Jupiter Topco LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $261,852,000. Van ECK Associates Corp grew its stake in shares of Broadridge Financial Solutions by 11.3% in the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock worth $256,875,000 after acquiring an additional 190,301 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Broadridge Financial Solutions in the second quarter worth approximately $197,921,000. Finally, Amundi grew its stake in shares of Broadridge Financial Solutions by 67.5% in the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock worth $172,070,000 after acquiring an additional 426,587 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.5%

Broadridge Financial Solutions stock opened at $174.93 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $236.02. The stock has a fifty day moving average of $170.16 and a 200 day moving average of $157.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $19.75 billion, a PE ratio of 18.18 and a beta of 0.92.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.06. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd were paid a $1.09 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. The ex-dividend date was Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.5%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 45.32%.

Insider Activity

In related news, VP Thomas Carey sold 2,501 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the transaction, the vice president owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of 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 raised their target price on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. UBS Group reaffirmed a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Finally, 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. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.00.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company’s services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.