Concurrent Investment Advisors LLC Has $1.35 Million Stock Position in Broadridge Financial Solutions, Inc. $BR

Concurrent Investment Advisors LLC reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 27.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,828 shares of the business services provider’s stock after selling 3,706 shares during the period. Concurrent Investment Advisors LLC’s holdings in Broadridge Financial Solutions were worth $1,346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in Broadridge Financial Solutions in the second quarter valued at about $1,473,918,000. Jupiter Topco LLC acquired a new position in Broadridge Financial Solutions during the second quarter worth about $261,852,000. Norges Bank bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $346,304,000. The Manufacturers Life Insurance Company bought a new position in shares of Broadridge Financial Solutions in the second quarter worth about $197,921,000. Finally, Van ECK Associates Corp boosted its stake in shares of 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 valued at $329,239,000 after purchasing an additional 774,747 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Down 0.0%

Shares of BR opened at $168.09 on Friday. The stock’s 50-day moving average price is $163.55 and its two-hundred day moving average price is $160.23. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $255.74. The company has a market capitalization of $19.17 billion, a PE ratio of 17.47 and a beta of 0.90. 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 (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share 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 analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the firm posted $3.55 earnings per share. 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, analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Thursday, September 3rd will be issued a $1.09 dividend. The ex-dividend date is Thursday, September 3rd. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. This represents a $4.36 annualized dividend and a yield of 2.6%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 45.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Monday, August 31st. UBS Group reissued a “neutral” rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Four equities research 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.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average target price of $216.00.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE:BR) is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company’s offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.