Legal & General Group Plc Makes New $99.17 Million Investment in Broadridge Financial Solutions, Inc. $BR

Legal & General Group Plc bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, HoldingsChannel reports. The institutional investor bought 724,145 shares of the business services provider’s stock, valued at approximately $99,172,000.

Other hedge funds also recently modified their holdings of the company. Reflection Asset Management bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $25,000. Nemes Rush Group LLC bought a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $27,000. Prosperity Bancshares Inc bought a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $28,000. DV Equities LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth $37,000. Finally, Fulcrum Asset Management LLP acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth $47,000. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction dated 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 directly owned 1 shares in the company, valued at approximately $155. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BR shares. Royal Bank Of Canada upped their target price on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Needham & Company LLC decreased their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. DA Davidson cut their target price 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. Finally, UBS Group reissued a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $215.86.

Broadridge Financial Solutions Stock Up 0.8%

Shares of NYSE BR opened at $183.06 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $258.70. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $20.87 billion, a P/E ratio of 19.03 and a beta of 0.87. The firm has a 50 day moving average price of $156.12 and a 200 day moving average price of $160.16.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.06. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Analysts expect 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. Investors of record on Thursday, September 3rd will be given a $1.09 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. Broadridge Financial Solutions’s dividend payout ratio is currently 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.