Broadridge Financial Solutions, Inc. $BR Shares Purchased by Saudi Central Bank

Saudi Central Bank increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 89.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,172 shares of the business services provider’s stock after buying an additional 3,863 shares during the quarter. Saudi Central Bank’s holdings in Broadridge Financial Solutions were worth $1,119,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $1,473,918,000. State Street Corp raised its holdings in Broadridge Financial Solutions by 6.7% in the 4th quarter. State Street Corp now owns 5,994,841 shares of the business services provider’s stock worth $1,343,572,000 after purchasing an additional 375,699 shares during the period. Geode Capital Management LLC raised its holdings in Broadridge Financial Solutions by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,354,869 shares of the business services provider’s stock worth $746,062,000 after purchasing an additional 12,524 shares during the period. Barclays PLC boosted its position in Broadridge Financial Solutions by 1.8% during the fourth quarter. Barclays PLC now owns 2,007,968 shares of the business services provider’s stock worth $448,118,000 after purchasing an additional 35,169 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth approximately $261,852,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $167.96 on Thursday. The company has a market cap of $19.15 billion, a PE ratio of 17.46 and a beta of 0.90. The stock’s 50 day simple moving average is $163.06 and its 200-day simple moving average is $160.29. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $255.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the business earned $3.55 earnings per share. The firm’s revenue for the quarter 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 research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Thursday, September 3rd will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. The ex-dividend date is Thursday, September 3rd. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 45.32%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BR shares. Royal Bank Of Canada boosted their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research note on Friday, August 7th. Morgan Stanley boosted their price target 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (NYSE:BR) is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company’s offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.