Rep. Rick Larsen Purchases Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Representative Rick Larsen (D-Washington) recently bought shares of Broadridge Financial Solutions, Inc. (NYSE:BR). In a filing disclosed on January 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Broadridge Financial Solutions stock on January 7th.

Representative Rick Larsen also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Cintas (NASDAQ:CTAS) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of Booz Allen Hamilton (NYSE:BAH) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOGL) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of Comcast (NASDAQ:CMCSA) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Verisk Analytics (NASDAQ:VRSK) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of General Dynamics (NYSE:GD) on 1/7/2025.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $228.09 on Thursday. The company has a market capitalization of $26.66 billion, a price-to-earnings ratio of 39.46 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.96. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average price of $228.96 and a 200 day moving average price of $217.36.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.54%. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock valued at $12,264,846 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BR. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. DA Davidson raised their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, UBS Group initiated coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $226.71.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds have recently modified their holdings of BR. State Street Corp lifted its position in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after acquiring an additional 51,439 shares during the period. Geode Capital Management LLC boosted its position in Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after purchasing an additional 15,208 shares in the last quarter. Stifel Financial Corp grew its holdings in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock valued at $342,856,000 after purchasing an additional 5,813 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Broadridge Financial Solutions by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after buying an additional 20,775 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

About Representative Larsen

Rick Larsen (Democratic Party) is a member of the U.S. House, representing Washington’s 2nd Congressional District. He assumed office on January 3, 2001. His current term ends on January 3, 2025. Larsen (Democratic Party) is running for re-election to the U.S. House to represent Washington’s 2nd Congressional District. He declared candidacy for the primary scheduled on August 6, 2024. Since at least 2011, Larsen has been assigned to the Committee on Armed Services and the Committee on Transportation and Infrastructure. Larsen’s first position as an elected official was in 1998 as a member of the Snohomish County Council. Larsen earned his bachelor’s degree from Pacific Lutheran University. After earning his master’s degree in public affairs from the University of Minnesota, Larsen worked as the director of public affairs for the Washington State Dental Association and then as an economic development official with the Port of Everett. He went on to serve on the Snohomish County Council before seeking election to the U.S. House.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.