Broadridge Financial Solutions, Inc. $BR Stock: TD Waterhouse Canada Inc. Boosts Position

TD Waterhouse Canada Inc. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 671.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,619 shares of the business services provider’s stock after acquiring an additional 4,891 shares during the period. TD Waterhouse Canada Inc.’s holdings in Broadridge Financial Solutions were worth $905,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. lifted its stake in shares of Broadridge Financial Solutions by 230.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 172 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 120 shares during the period. Security National Bank of SO Dak purchased a new stake in Broadridge Financial Solutions in the second quarter worth $26,000. Markowski Investments purchased a new stake in Broadridge Financial Solutions in the second quarter worth $27,000. Bell Investment Advisors Inc purchased a new stake in Broadridge Financial Solutions in the second quarter worth $29,000. Finally, Evolution Wealth Management Inc. bought a new position in Broadridge Financial Solutions in the first quarter worth $36,000. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BR shares. UBS Group reissued a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Royal Bank Of Canada boosted their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Weiss Ratings raised shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Morgan Stanley increased 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 research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

Insider Buying and Selling

In other news, VP Thomas Carey sold 2,501 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total value of $399,559.76. Following the sale, the vice president directly owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.00% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $186.26 on Friday. 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 firm has a 50 day moving average price of $170.84 and a 200-day moving average price of $158.40. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $236.02. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 19.36 and a beta of 0.92.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly 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. 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 quarter in the prior year, the business posted $3.55 EPS. The firm’s quarterly 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. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd were issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 2.3%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.9750. The ex-dividend date of this dividend was Thursday, September 3rd. Broadridge Financial Solutions’s dividend payout ratio is presently 45.32%.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.