iA Global Asset Management Inc. Has $1.64 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

iA Global Asset Management Inc. raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 434.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,606 shares of the business services provider’s stock after purchasing an additional 6,183 shares during the period. iA Global Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $1,636,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Qsemble Capital Management LP bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $1,412,000. Atria Investments Inc raised its holdings in Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after buying an additional 2,610 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Broadridge Financial Solutions by 22.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock valued at $7,191,000 after buying an additional 6,690 shares in the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $483,000. Finally, Legacy Capital Wealth Partners LLC increased its position in shares of Broadridge Financial Solutions by 82.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after acquiring an additional 3,216 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $235.43 on Monday. 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 stock has a 50 day moving average price of $222.41 and a 200 day moving average price of $211.72. The stock has a market capitalization of $27.52 billion, a PE ratio of 40.73 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of 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 initiated coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target on the stock. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $222.43.

Insider Activity at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,066 shares of company stock worth $16,006,777. Insiders own 1.30% of the company’s stock.

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.