724,145 Shares in Broadridge Financial Solutions, Inc. $BR Acquired by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 724,145 shares of the business services provider’s stock, valued at approximately $99,172,000. Legal & General Group Plc owned approximately 0.64% of Broadridge Financial Solutions at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BR. Reflection Asset Management bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $25,000. Nemes Rush Group LLC bought a new position in Broadridge Financial Solutions during the 4th quarter valued at about $27,000. Prosperity Bancshares Inc acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at about $28,000. Bell Investment Advisors Inc acquired a new position in Broadridge Financial Solutions in the second quarter valued at about $29,000. Finally, Jones Financial Companies Lllp acquired a new position in Broadridge Financial Solutions in the second quarter valued at about $33,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. UBS Group restated a “neutral” rating and set a $180.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Needham & Company LLC dropped their price target on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, DA Davidson cut their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.86.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the transaction, the insider owned 1 shares of the company’s stock, valued at approximately $155. This represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.8%

BR opened at $183.06 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $258.70. The stock has a market capitalization of $20.87 billion, a PE ratio of 19.03 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $156.12 and a two-hundred day moving average price of $160.16.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (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 company 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 business earned $3.55 earnings per share. Broadridge Financial Solutions’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. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

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

Broadridge Financial Solutions Company 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.