Westpac Banking Corp Purchases 19,690 Shares of Broadridge Financial Solutions, Inc. $BR

Westpac Banking Corp lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 173.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,062 shares of the business services provider’s stock after purchasing an additional 19,690 shares during the quarter. Westpac Banking Corp’s holdings in Broadridge Financial Solutions were worth $5,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Reflection Asset Management bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $25,000. Nemes Rush Group LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $27,000. Prosperity Bancshares Inc purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth approximately $28,000. WPG Advisers LLC boosted its stake in Broadridge Financial Solutions by 77.5% in the fourth quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Finally, Evolution Wealth Management Inc. purchased a new stake in Broadridge Financial Solutions in the first quarter worth approximately $36,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,966 shares of the company’s 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 completion of the sale, the insider directly owned 1 shares in the company, valued at $155. This represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group decreased their price target on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. DA Davidson cut their price objective on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Broadridge Financial Solutions in a report on Monday, June 22nd. Finally, Needham & Company LLC decreased their target price on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.57.

Broadridge Financial Solutions Price Performance

BR opened at $144.89 on Wednesday. The stock’s 50 day simple moving average is $146.12 and its 200 day simple moving average is $168.39. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $271.91. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 15.51 and a beta of 0.89.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.09. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Broadridge Financial Solutions has set its FY 2026 guidance at 9.410-9.580 EPS. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, June 12th. Broadridge Financial Solutions’s payout ratio is presently 41.76%.

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.