Freestone Grove Partners LP Buys New Stake in Broadridge Financial Solutions, Inc. $BR

Freestone Grove Partners LP purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, HoldingsChannel.com reports. The fund purchased 19,988 shares of the business services provider’s stock, valued at approximately $2,737,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at about $1,473,918,000. Jupiter Topco LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $261,852,000. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $346,304,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $197,921,000. Finally, Van ECK Associates Corp boosted its stake in Broadridge Financial Solutions by 110.6% during the fourth quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider’s stock valued at $329,239,000 after buying an additional 774,747 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada increased their target price on Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. DA Davidson cut their target price on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Finally, Needham & Company LLC decreased their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average target price of $215.86.

Broadridge Financial Solutions Trading Up 0.3%

Shares of NYSE BR opened at $183.54 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $258.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average is $157.05 and its two-hundred day moving average is $160.32. The stock has a market capitalization of $20.93 billion, a P/E ratio of 19.08 and a beta of 0.87.

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

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Thursday, September 3rd will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, September 3rd. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. Broadridge Financial Solutions’s payout ratio is currently 40.54%.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,966 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider directly owned 1 shares in the company, valued at $155. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

About Broadridge Financial Solutions

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.