Occidental Asset Management LLC Invests $3.50 Million in Broadridge Financial Solutions, Inc. $BR

Occidental Asset Management LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 25,562 shares of the business services provider’s stock, valued at approximately $3,501,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $580,000. Empowered Funds LLC grew its position in Broadridge Financial Solutions by 41.5% in the first quarter. Empowered Funds LLC now owns 3,957 shares of the business services provider’s stock worth $959,000 after acquiring an additional 1,160 shares in the last quarter. Woodline Partners LP increased its stake in shares of Broadridge Financial Solutions by 6.9% during 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 during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Broadridge Financial Solutions by 480.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,544 shares of the business services provider’s stock valued at $616,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of 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 valued at $6,203,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 1.8%

Broadridge Financial Solutions stock opened at $167.92 on Tuesday. The business has a 50 day moving average price of $150.30 and a two-hundred day moving average price of $160.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 17.46 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $265.37.

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, topping 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 company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $3.55 EPS. The company’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 forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced 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 represents a $4.36 annualized dividend and a yield of 2.6%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Thursday, September 3rd. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 45.32%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the sale, the insider owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BR. Morgan Stanley upped 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 report on Thursday, August 6th. Royal Bank Of Canada boosted their price target on Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. DA Davidson cut their price objective on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Needham & Company LLC reduced their target price 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, UBS Group reaffirmed a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.86.

Broadridge Financial Solutions 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.