Saudi Central Bank Grows Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Saudi Central Bank grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 89.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,172 shares of the business services provider’s stock after buying an additional 3,863 shares during the period. Saudi Central Bank’s holdings in Broadridge Financial Solutions were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter worth $580,000. Empowered Funds LLC lifted its holdings in shares of Broadridge Financial Solutions by 41.5% during the 1st quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider’s stock valued at $959,000 after purchasing an additional 1,160 shares during the last quarter. Woodline Partners LP boosted its position in shares of Broadridge Financial Solutions by 6.9% in the 1st quarter. Woodline Partners LP now owns 9,886 shares of the business services provider’s stock worth $2,397,000 after purchasing an additional 635 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Broadridge Financial Solutions by 480.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider’s stock worth $616,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Broadridge Financial Solutions by 8.5% during the 2nd quarter. Cerity Partners LLC now owns 25,523 shares of the business services provider’s stock worth $6,203,000 after buying an additional 2,004 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research note on Friday, August 7th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada upped their price objective 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. Finally, UBS Group reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four 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, the company currently has an average rating of “Moderate Buy” and an average price target of $216.00.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $167.96 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day moving average of $163.06 and a two-hundred day moving average of $160.29. The stock has a market cap of $19.15 billion, a P/E ratio of 17.46 and a beta of 0.90. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $255.74.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the company earned $3.55 earnings per share. The company’s 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. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a yield of 2.6%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. Broadridge Financial Solutions’s payout ratio is 45.32%.

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.