Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 173.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,211 shares of the business services provider’s stock after acquiring an additional 7,739 shares during the period. Intech Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $2,502,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $39,000. Diversified Trust Co acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $309,000. BKM Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $37,000. Cedar Brook Financial Partners LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $220,000. Finally, SG Americas Securities LLC lifted its position in Broadridge Financial Solutions by 60.8% during the fourth quarter. SG Americas Securities LLC now owns 7,122 shares of the business services provider’s stock valued at $1,465,000 after buying an additional 2,693 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Evercore ISI reissued an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Down 1.4 %

Shares of NYSE:BR traded down $2.93 during midday trading on Friday, reaching $201.89. The company had a trading volume of 590,978 shares, compared to its average volume of 439,896. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s fifty day moving average price is $200.23 and its 200-day moving average price is $200.30. The stock has a market capitalization of $23.86 billion, a P/E ratio of 34.45 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a one year low of $164.99 and a one year high of $211.68.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.20 annualized dividend and a yield of 1.59%. Broadridge Financial Solutions’s payout ratio is 54.61%.

Broadridge Financial Solutions 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.