Pullen Investment Management LLC Buys New Holdings in Broadridge Financial Solutions, Inc. $BR

Pullen Investment Management LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 7,597 shares of the business services provider’s stock, valued at approximately $1,224,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $1,473,918,000. Jupiter Topco LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter valued at $261,852,000. Van ECK Associates Corp lifted its holdings in Broadridge Financial Solutions by 11.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider’s stock valued at $256,875,000 after purchasing an additional 190,301 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Broadridge Financial Solutions during the second quarter worth $197,921,000. Finally, Amundi boosted its position in Broadridge Financial Solutions by 67.5% during the first quarter. Amundi now owns 1,059,021 shares of the business services provider’s stock worth $172,070,000 after purchasing an additional 426,587 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BR has been the topic of several research reports. 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. UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Royal Bank Of Canada lifted their target price 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, Morgan Stanley lifted their target price 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. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas Carey sold 2,501 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the transaction, the vice president 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 filing with the Securities & Exchange Commission, which is available at 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 insiders.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $183.29 on Monday. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 19.05 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. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $235.27. The stock’s 50 day moving average is $171.09 and its 200-day moving average is $158.54.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly 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. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. 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 disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were issued a $1.09 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. Broadridge Financial Solutions’s payout ratio is currently 45.32%.

About Broadridge Financial Solutions

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.