Westpac Banking Corp Makes New $4.14 Million Investment in Broadridge Financial Solutions, Inc. $BR

Westpac Banking Corp purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,209 shares of the business services provider’s stock, valued at approximately $4,137,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strs Ohio increased its position in shares of Broadridge Financial Solutions by 25.8% in the first quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock worth $7,927,000 after acquiring an additional 9,996 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $4,211,000. UNIVEST FINANCIAL Corp purchased a new stake in Broadridge Financial Solutions during the 1st quarter worth $8,227,000. Empowered Funds LLC increased its holdings in Broadridge Financial Solutions by 29.9% in the 1st quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider’s stock valued at $7,869,000 after purchasing an additional 11,152 shares in the last quarter. Finally, New Age Alpha Advisors LLC raised its position in Broadridge Financial Solutions by 51.6% in the fourth quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider’s stock valued at $8,237,000 after purchasing an additional 12,569 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 2.0%

NYSE BR opened at $182.12 on Friday. The company’s fifty day moving average price is $152.70 and its two-hundred day moving average price is $160.54. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 18.93 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $264.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm earned $3.55 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be issued a $1.09 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. This represents a $4.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 3rd. Broadridge Financial Solutions’s dividend payout ratio is presently 40.54%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction 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 sale, the insider directly owned 1 shares of the company’s stock, valued at approximately $155. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. DA Davidson lowered their target price on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Royal Bank Of Canada lifted their price objective on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. UBS Group restated a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday. Needham & Company LLC dropped their price target on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Morgan Stanley upped 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 report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.86.

Broadridge Financial Solutions Profile

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.