Reynders McVeigh Capital Management LLC Makes New $11.98 Million Investment in Broadridge Financial Solutions, Inc. $BR

Reynders McVeigh Capital Management LLC bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) in the second quarter, HoldingsChannel reports. The institutional investor bought 87,447 shares of the business services provider’s stock, valued at approximately $11,976,000.

Other large investors also recently modified their holdings of the company. Reflection Asset Management bought a new stake in Broadridge Financial Solutions during the fourth quarter worth about $25,000. Nemes Rush Group LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $27,000. Markowski Investments bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $27,000. Bell Investment Advisors Inc bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth approximately $29,000. Finally, Evolution Wealth Management Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $36,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BR shares. Morgan Stanley lifted their price objective 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 raised their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research note 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 report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.00.

Read Our Latest Stock Analysis on BR

Broadridge Financial Solutions Trading Down 2.4%

Shares of BR stock traded down $4.13 during mid-day trading on Tuesday, reaching $170.26. 945,822 shares of the stock traded hands, compared to its average volume of 1,398,485. The stock’s fifty day simple moving average is $164.61 and its two-hundred day simple moving average is $160.15. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $250.26. The company has a market cap of $19.41 billion, a price-to-earnings ratio of 17.70 and a beta of 0.90. 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:BRGet Free Report) last released 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 company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be given a $1.09 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. The ex-dividend date is Thursday, September 3rd. This represents a $4.36 annualized dividend and a yield of 2.6%. Broadridge Financial Solutions’s dividend payout ratio is currently 45.32%.

Broadridge Financial Solutions Company Profile

(Free Report)

Broadridge Financial Solutions, Inc (NYSE:BR) is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company’s offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.

See Also

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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