Quantbot Technologies LP Raises Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quantbot Technologies LP boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,806 shares of the business services provider’s stock after buying an additional 3,219 shares during the period. Quantbot Technologies LP’s holdings in Broadridge Financial Solutions were worth $2,109,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. lifted its stake in Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock worth $1,279,000 after purchasing an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Broadridge Financial Solutions by 0.5% during 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 acquiring an additional 50 shares during the last quarter. Garrison Asset Management LLC increased its position in Broadridge Financial Solutions by 0.3% during the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 50 shares during the last quarter. Brighton Jones LLC raised its stake in Broadridge Financial Solutions by 2.5% during the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after purchasing an additional 52 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its holdings 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 valued at $2,128,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BR. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. 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 reissued an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Finally, Morgan Stanley lifted their price target 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $222.43.

Insider Activity

In other news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,294 shares of company stock worth $16,944,095. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $235.80 on Friday. 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 company has a market cap of $27.56 billion, a P/E ratio of 40.80 and a beta of 1.05. The stock has a 50-day moving average of $218.97 and a two-hundred day moving average of $210.02. Broadridge Financial Solutions, Inc. has a 1-year low of $186.19 and a 1-year high of $237.74.

Broadridge Financial Solutions (NYSE:BR) last posted 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. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 dividend yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

About Broadridge Financial Solutions

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.