Empowered Funds LLC Boosts Stock Position in Broadridge Financial Solutions, Inc. $BR

Empowered Funds LLC raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 29.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,430 shares of the business services provider’s stock after acquiring an additional 11,152 shares during the quarter. Empowered Funds LLC’s holdings in Broadridge Financial Solutions were worth $7,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Broadridge Financial Solutions by 481.9% during the first quarter. The Manufacturers Life Insurance Company now owns 386,435 shares of the business services provider’s stock valued at $62,788,000 after purchasing an additional 320,022 shares during the period. SummitTX Capital L.P. purchased a new position in Broadridge Financial Solutions in the 1st quarter worth about $1,325,000. Lazard Asset Management LLC purchased a new position in Broadridge Financial Solutions in the 1st quarter worth about $1,153,000. OMERS ADMINISTRATION Corp lifted its holdings in Broadridge Financial Solutions by 31.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,539 shares of the business services provider’s stock valued at $900,000 after buying an additional 1,314 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in Broadridge Financial Solutions by 110.1% during the 1st quarter. Waverly Advisors LLC now owns 4,414 shares of the business services provider’s stock valued at $717,000 after buying an additional 2,313 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.5%

Shares of Broadridge Financial Solutions stock opened at $154.02 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $271.91. The firm’s 50-day moving average is $146.80 and its two-hundred day moving average is $164.86. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 16.49 and a beta of 0.89.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.63 by $0.09. Broadridge Financial Solutions had a net margin of 15.03% and a return on equity of 40.14%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $0.975 per share. The ex-dividend date was Friday, June 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.5%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 41.76%.

Analyst Ratings Changes

A number of equities analysts have commented on BR shares. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. Needham & Company LLC decreased their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, May 1st. DA Davidson lowered their price target on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Weiss Ratings cut Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, UBS Group reduced their price objective on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.57.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider directly owned 1 shares of the company’s stock, valued at $155. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

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.