Broadridge Financial Solutions, Inc. $BR Stock: State of Alaska Department of Revenue Grows Stake

State of Alaska Department of Revenue lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 386.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 72,592 shares of the business services provider’s stock after buying an additional 57,660 shares during the period. State of Alaska Department of Revenue’s holdings in Broadridge Financial Solutions were worth $11,695,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Broadridge Financial Solutions by 218.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after acquiring an additional 10,266 shares during the last quarter. Western Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $959,000. Strs Ohio increased its position 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 worth $7,927,000 after purchasing an additional 9,996 shares in the last quarter. Andra AP fonden increased its position in Broadridge Financial Solutions by 96.5% during the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock worth $23,385,000 after purchasing an additional 83,857 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Broadridge Financial Solutions in the 1st quarter valued at approximately $4,211,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their price target 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. Finally, UBS Group reiterated a “neutral” rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $216.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the sale, the vice president directly owned 8,800 shares of the company’s stock, valued at $1,405,888. The trade was a 22.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $173.96 on Friday. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 18.08 and a beta of 0.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15. The business’s 50-day moving average price is $169.99 and its 200-day moving average price is $157.78. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $236.02.

Broadridge Financial Solutions (NYSE:BR) 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. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the firm posted $3.55 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Thursday, September 3rd were given a dividend of $1.09 per share. The ex-dividend date was Thursday, September 3rd. This represents a $4.36 annualized dividend and a yield of 2.5%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. Broadridge Financial Solutions’s dividend payout ratio is 45.32%.

About Broadridge Financial Solutions

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.