244,906 Shares in Broadridge Financial Solutions, Inc. $BR Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the second quarter, Holdings Channel reports. The firm acquired 244,906 shares of the business services provider’s stock, valued at approximately $33,540,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Broadridge Financial Solutions during the 2nd quarter worth about $1,473,918,000. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $346,304,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $197,921,000. Van ECK Associates Corp raised its position in shares of Broadridge Financial Solutions by 110.6% during the fourth quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider’s stock worth $329,239,000 after acquiring an additional 774,747 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Broadridge Financial Solutions during the second quarter worth about $101,738,000. 90.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BR. 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. Morgan Stanley increased their target price on shares of 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. Weiss Ratings restated a “hold (c-)” rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. Royal Bank Of Canada boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Needham & Company LLC reduced their price objective on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.86.

Broadridge Financial Solutions Stock Performance

BR stock opened at $183.06 on Friday. The stock has a 50-day moving average price of $156.12 and a 200-day moving average price of $160.16. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $258.70. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a market cap of $20.87 billion, a PE ratio of 19.03 and a beta of 0.87.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the business earned $3.55 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 2.4%. This is a boost 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 payout ratio is presently 40.54%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction that occurred on 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. This represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

About Broadridge Financial Solutions

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.