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

Intech Investment Management LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 94.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,471 shares of the business services provider’s stock after buying an additional 25,539 shares during the quarter. Intech Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $11,283,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. lifted its stake in Broadridge Financial Solutions by 0.8% in the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after buying an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC lifted its position in Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after purchasing an additional 50 shares during the last quarter. Brighton Jones LLC boosted its stake in Broadridge Financial Solutions by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 52 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its position in Broadridge Financial Solutions by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 10,804 shares of the business services provider’s stock worth $2,128,000 after purchasing an additional 54 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadridge Financial Solutions news, Director Leslie A. Brun sold 5,739 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $210.05, for a total transaction of $1,205,476.95. Following the completion of the sale, the director now directly owns 77,318 shares in the company, valued at $16,240,645.90. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now 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 worth $18,149,572 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Stock Up 0.9 %

BR stock opened at $227.48 on Friday. The firm has a market cap of $26.59 billion, a PE ratio of 39.36 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $217.12 and a 200 day simple moving average of $208.88. Broadridge Financial Solutions, Inc. has a 12 month low of $185.10 and a 12 month high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

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.