Broadridge Financial Solutions, Inc. $BR Stock: TD Waterhouse Canada Inc. Raises Stake

TD Waterhouse Canada Inc. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 671.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,619 shares of the business services provider’s stock after purchasing an additional 4,891 shares during the period. TD Waterhouse Canada Inc.’s holdings in Broadridge Financial Solutions were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BR. Appleton Partners Inc. MA increased its position in shares of Broadridge Financial Solutions by 0.5% during the first quarter. Appleton Partners Inc. MA now owns 12,137 shares of the business services provider’s stock valued at $1,972,000 after acquiring an additional 65 shares in the last quarter. Allworth Financial LP lifted its position in Broadridge Financial Solutions by 2.9% in the 2nd quarter. Allworth Financial LP now owns 2,662 shares of the business services provider’s stock valued at $365,000 after acquiring an additional 74 shares in the last quarter. Eastern Bank lifted its position in Broadridge Financial Solutions by 2.8% in the 3rd quarter. Eastern Bank now owns 2,693 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 74 shares in the last quarter. Investors Research Corp lifted its position in Broadridge Financial Solutions by 1.2% in the 2nd quarter. Investors Research Corp now owns 6,425 shares of the business services provider’s stock valued at $880,000 after acquiring an additional 75 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in Broadridge Financial Solutions by 3.0% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,894 shares of the business services provider’s stock valued at $397,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $186.26 on Friday. The company has a 50 day moving average price of $170.84 and a 200-day moving average price of $158.40. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $236.02. The firm has a market capitalization of $21.03 billion, a PE ratio of 19.36 and a beta of 0.92. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data 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 analysts’ expectations 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 quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, equities 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 dividend of $1.09 per share. The ex-dividend date was Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.3%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 45.32%.

Insiders Place Their Bets

In other news, VP Thomas Carey sold 2,501 shares of the 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 transaction, the vice president directly owned 8,800 shares of the company’s stock, valued at $1,405,888. This represents a 22.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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