Hsbc Holdings PLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 320,026 shares of the business services provider’s stock, valued at approximately $43,726,000.
Other institutional investors have also modified their holdings of the company. Reflection Asset Management acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $25,000. Nemes Rush Group LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $27,000. Prosperity Bancshares Inc purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $28,000. Bell Investment Advisors Inc purchased a new position in Broadridge Financial Solutions during the second quarter worth about $29,000. Finally, Jones Financial Companies Lllp acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of 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. Royal Bank Of Canada upped their price objective on Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. UBS Group reiterated a “neutral” rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research note on Friday, August 7th. Finally, Needham & Company LLC reduced their target price on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research report 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. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average target price of $215.86.
Insider Activity at Broadridge Financial Solutions
In other 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 transaction of $304,730.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Broadridge Financial Solutions Price Performance
Broadridge Financial Solutions stock opened at $181.23 on Thursday. The company’s 50 day simple moving average is $155.21 and its 200-day simple moving average is $160.15. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $259.02. The company has a market capitalization of $20.66 billion, a price-to-earnings ratio of 18.84 and a beta of 0.87.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company posted $3.55 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. The ex-dividend date is Thursday, September 3rd. Broadridge Financial Solutions’s payout ratio is currently 45.32%.
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.
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