Intech Investment Management LLC Acquires 25,539 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Intech Investment Management LLC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 94.8% in the third quarter, Holdings Channel reports. The institutional investor owned 52,471 shares of the business services provider’s stock after buying an additional 25,539 shares during the period. Intech Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $11,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Broadridge Financial Solutions by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Broadridge Financial Solutions by 0.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after purchasing an additional 6,634 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Broadridge Financial Solutions by 3.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock worth $157,741,000 after buying an additional 28,614 shares during the last quarter. Finally, abrdn plc raised its stake in Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after buying an additional 27,869 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Leslie A. Brun sold 5,739 shares of Broadridge Financial Solutions stock in a transaction on Monday, August 26th. The shares were sold at an average price of $210.05, for a total value of $1,205,476.95. Following the completion of the sale, the director now owns 77,318 shares in the company, valued at $16,240,645.90. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,033 shares of company stock valued at $18,149,572 over the last 90 days. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research report on Thursday. They issued a “neutral” rating and a $250.00 price target for the company. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $222.43.

Broadridge Financial Solutions Trading Up 0.9 %

Shares of BR stock opened at $227.48 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $185.10 and a fifty-two week high of $230.00. The stock’s fifty day moving average price is $217.12 and its two-hundred day moving average price is $208.88. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $26.59 billion, a PE ratio of 39.36 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.