Engineers Gate Manager LP Reduces Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Engineers Gate Manager LP lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 57.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 70,184 shares of the business services provider’s stock after selling 93,208 shares during the quarter. Engineers Gate Manager LP’s holdings in Broadridge Financial Solutions were worth $9,612,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Broadridge Financial Solutions by 13,091.8% during the second quarter. California State Teachers Retirement System now owns 26,629,243 shares of the business services provider’s stock worth $3,646,875,000 after buying an additional 26,427,381 shares during the period. BlackRock Inc. purchased a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $1,473,918,000. Jupiter Topco LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $261,852,000. Norges Bank bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $346,304,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $197,921,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $168.09 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $19.17 billion, a P/E ratio of 17.47 and a beta of 0.90. The company’s 50-day simple moving average is $163.55 and its two-hundred day simple moving average is $160.23. 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 issued its 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 net margin of 15.04% and a return on equity of 40.25%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted $3.55 earnings per share. The company’s quarterly revenue 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, equities analysts anticipate 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 will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, September 3rd. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 45.32%.

Broadridge Financial Solutions 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.