Quantbot Technologies LP raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 625.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,415 shares of the business services provider’s stock after acquiring an additional 46,052 shares during the quarter. Quantbot Technologies LP’s holdings in Broadridge Financial Solutions were worth $7,048,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Broadridge Financial Solutions by 2.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,561 shares of the business services provider’s stock valued at $2,251,000 after buying an additional 405 shares during the last quarter. Advisor Partners LLC increased its position in Broadridge Financial Solutions by 10.4% during the 2nd quarter. Advisor Partners LLC now owns 4,616 shares of the business services provider’s stock valued at $531,000 after purchasing an additional 433 shares during the period. Dakota Wealth Management increased its position in Broadridge Financial Solutions by 23.5% during the 3rd quarter. Dakota Wealth Management now owns 2,473 shares of the business services provider’s stock valued at $326,000 after purchasing an additional 470 shares during the period. Pinnacle Associates Ltd. increased its position in Broadridge Financial Solutions by 8.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 5,992 shares of the business services provider’s stock valued at $791,000 after purchasing an additional 488 shares during the period. Finally, Signaturefd LLC increased its position in Broadridge Financial Solutions by 101.6% during the 2nd quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 562 shares during the period. 84.97% of the stock is owned by hedge funds and other institutional investors.
NYSE BR opened at $99.06 on Monday. Broadridge Financial Solutions, Inc. has a 12-month low of $87.51 and a 12-month high of $138.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $11.55 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The business had revenue of $973.00 million during the quarter, compared to the consensus estimate of $970.19 million. During the same quarter last year, the firm posted $0.54 EPS. Broadridge Financial Solutions’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 46.30%.
In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 47,192 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at approximately $51,945,630.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stuart R. Levine sold 8,902 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total value of $879,072.50. Following the transaction, the director now owns 36,530 shares in the company, valued at $3,607,337.50. The disclosure for this sale can be found here. In the last three months, insiders sold 334,256 shares of company stock valued at $43,588,422. 2.30% of the stock is currently owned by insiders.
Several brokerages have recently commented on BR. SunTrust Banks began coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, August 10th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $120.00.
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Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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