Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 61.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,730 shares of the business services provider’s stock after selling 135,815 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Broadridge Financial Solutions were worth $13,650,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the business. Security National Bank of SO Dak acquired a new stake in Broadridge Financial Solutions in the 2nd quarter worth about $26,000. Markowski Investments purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $27,000. Valley Wealth Managers Inc. grew its holdings in Broadridge Financial Solutions by 230.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider’s stock valued at $28,000 after buying an additional 120 shares during the period. Bell Investment Advisors Inc purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $29,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $33,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on BR. Royal Bank Of Canada increased their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. UBS Group reissued a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Four investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $216.00.
Insider Buying and Selling
In other news, VP Thomas Carey sold 2,501 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by corporate insiders.
Broadridge Financial Solutions Trading Up 0.0%
BR stock opened at $183.29 on Monday. The company has a market cap of $20.69 billion, a price-to-earnings ratio of 19.05 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. The business has a fifty day simple moving average of $171.09 and a 200-day simple moving average of $158.54. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $235.27.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last issued its earnings results 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 return on equity of 40.25% and a net margin of 15.04%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted $3.55 EPS. The business’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, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.
Broadridge Financial Solutions Increases Dividend
The company also recently declared 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. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. This represents a $4.36 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 3rd. Broadridge Financial Solutions’s payout ratio is currently 45.32%.
Broadridge Financial Solutions Company 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.
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