Broadridge Financial Solutions, Inc. $BR Shares Newly Acquired by Pullen Investment Management LLC

Pullen Investment Management LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,597 shares of the business services provider’s stock, valued at approximately $1,224,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $1,473,918,000. Jupiter Topco LLC bought a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $261,852,000. Van ECK Associates Corp increased its position in shares of Broadridge Financial Solutions by 11.3% during the second quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock valued at $256,875,000 after purchasing an additional 190,301 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at $197,921,000. Finally, Amundi raised 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 valued at $172,070,000 after purchasing an additional 426,587 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the stock in a transaction 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 completion of the sale, the vice president owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BR. Weiss Ratings upgraded 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 raised their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $216.00.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $183.29 on Monday. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 19.05 and a beta of 0.92. The business has a 50-day moving average of $171.09 and a 200-day moving average of $158.54. 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 fifty-two week low of $133.83 and a fifty-two week high of $235.27.

Broadridge Financial Solutions (NYSE:BR) last released 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. 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 for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. Broadridge Financial Solutions’s revenue was up 7.5% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Thursday, September 3rd were issued a dividend of $1.09 per share. The ex-dividend date was Thursday, September 3rd. This is a positive change 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 2.4%. Broadridge Financial Solutions’s dividend payout ratio is presently 45.32%.

About Broadridge Financial Solutions

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.