Michael J. Porro & Co. Financial Advisors Inc. Purchases New Shares in Broadridge Financial Solutions, Inc. $BR

Michael J. Porro & Co. Financial Advisors Inc. purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,000 shares of the business services provider’s stock, valued at approximately $644,000.

A number of other hedge funds have also recently modified their holdings of the business. Reflection Asset Management purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $25,000. Security National Bank of SO Dak purchased a new position in Broadridge Financial Solutions during the second quarter valued at $26,000. Markowski Investments purchased a new position in Broadridge Financial Solutions during the second quarter valued at $27,000. Valley Wealth Managers Inc. lifted its position in Broadridge Financial Solutions by 230.8% during the third quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Finally, Bell Investment Advisors Inc bought a new stake in Broadridge Financial Solutions during the second quarter valued at about $29,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $173.96 on Friday. The company has a 50 day simple moving average of $169.99 and a two-hundred day simple moving average of $157.78. 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 firm has a market cap of $19.64 billion, a P/E ratio of 18.08 and a beta of 0.92. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $236.02.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $3.76 by $0.06. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $3.55 EPS. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were issued a dividend of $1.09 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. This represents a $4.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, September 3rd. Broadridge Financial Solutions’s payout ratio is 45.32%.

Insider Buying and Selling

In other news, VP Thomas Carey sold 2,501 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. The trade was a 22.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BR shares. Weiss Ratings upgraded Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Morgan Stanley lifted their price objective on 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.00.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc is a financial technology and services company that provides communications, technology and data solutions to financial institutions, public companies and other organizations. Its platforms support critical business processes across investor communications, capital markets, wealth management and corporate governance.

The company’s services include proxy and regulatory communications, shareholder and customer communications, securities processing, trading and operations technology, portfolio and wealth management tools, and governance solutions.