Key Points
- Insider sale: Broadridge VP Thomas Carey sold 2,501 shares for approximately $399,560, reducing his direct ownership by 22.13%. The sale covered tax-withholding obligations related to vested equity awards.
- Strong financial results and higher dividend: The company reported quarterly EPS of $3.82, exceeding estimates, while revenue rose 7.5% year over year to $2.22 billion. Broadridge also increased its quarterly dividend to $1.09, representing a 2.7% annualized yield.
- Analyst sentiment remains favorable: Broadridge has a consensus “Moderate Buy” rating and an average price target of $216, compared with a recent share price near $159. Institutional investors own about 90% of the company.
Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) 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 completion of the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. The trade was a 22.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Broadridge Financial Solutions Price Performance
NYSE BR opened at $159.04 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $133.83 and a 52 week high of $238.73. The firm has a market capitalization of $17.96 billion, a P/E ratio of 16.53 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 company has a 50-day moving average price of $169.08 and a 200-day moving average price of $157.87.
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 (EPS) for the quarter, topping analysts' consensus estimates of $3.76 by $0.06. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate 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 revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current year.
Broadridge Financial Solutions Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were given a $1.09 dividend. The ex-dividend date was Thursday, September 3rd. 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 2.7%. Broadridge Financial Solutions's payout ratio is 45.32%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $1,473,918,000. Jupiter Topco LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $261,852,000. The Manufacturers Life Insurance Company purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $197,921,000. Van ECK Associates Corp boosted its stake in Broadridge Financial Solutions by 110.6% in the 4th quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider's stock worth $329,239,000 after purchasing an additional 774,747 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $101,738,000. Hedge funds and other institutional investors own 90.03% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on BR shares. Morgan Stanley upped 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 lifted their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Four investment 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 has a consensus rating of "Moderate Buy" and an average target price of $216.00.
Read Our Latest Report on BR
Broadridge Financial Solutions Company Profile
(
Get Free Report)
Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.
The company's services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.
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