Public Employees Retirement System of Ohio purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 35,809 shares of the business services provider’s stock, valued at approximately $4,904,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strs Ohio boosted its stake in Broadridge Financial Solutions by 25.8% during the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock valued at $7,927,000 after acquiring an additional 9,996 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth about $4,211,000. Empowered Funds LLC lifted its position in shares of Broadridge Financial Solutions by 29.9% during the first quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider’s stock worth $7,869,000 after purchasing an additional 11,152 shares during the last quarter. UNIVEST FINANCIAL Corp acquired a new position in Broadridge Financial Solutions in the first quarter worth about $8,227,000. Finally, Cvfg LLC acquired a new position in Broadridge Financial Solutions in the first quarter worth about $2,463,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Analysts Set New Price Targets
BR has been the topic of several research reports. Royal Bank Of Canada upped their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley lifted their target price on 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Finally, UBS Group reissued a “neutral” rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.00.
Broadridge Financial Solutions Price Performance
Shares of NYSE:BR opened at $178.30 on Thursday. 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, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $255.74. The firm has a 50-day simple moving average of $159.61 and a 200 day simple moving average of $160.39. The company has a market cap of $20.33 billion, a PE ratio of 18.53 and a beta of 0.90.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.06. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The firm 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 business earned $3.55 earnings per share. Broadridge Financial Solutions’s quarterly 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. On average, sell-side analysts anticipate 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. Stockholders of record on Thursday, September 3rd will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 3rd. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. Broadridge Financial Solutions’s payout ratio is currently 40.54%.
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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