Northstar Asset Management Inc. Sells 7,870 Shares of Broadridge Financial Solutions, Inc. $BR

Northstar Asset Management Inc. lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 44.2% in the second quarter, HoldingsChannel.com reports. The firm owned 9,926 shares of the business services provider’s stock after selling 7,870 shares during the quarter. Northstar Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $1,359,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BR. Reflection Asset Management bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $25,000. Nemes Rush Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $27,000. Prosperity Bancshares Inc bought a new position in Broadridge Financial Solutions during the fourth quarter worth $28,000. DV Equities LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth $37,000. Finally, Fulcrum Asset Management LLP acquired a new position in Broadridge Financial Solutions in the third quarter valued at $47,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,966 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the transaction, the insider directly owned 1 shares in the company, valued at $155. This trade represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. 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 report on Tuesday, May 5th. Royal Bank Of Canada increased their price target on Broadridge Financial Solutions from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. UBS Group reaffirmed a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Finally, Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.86.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $183.54 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $258.70. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 19.08 and a beta of 0.87. The business has a 50-day simple moving average of $157.05 and a 200 day simple moving average of $160.32. 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 announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (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 business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the company earned $3.55 earnings per share. The company’s quarterly revenue 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. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company 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 dividend of $1.09 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.4%. Broadridge Financial Solutions’s payout ratio is currently 40.54%.

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.