Quantbot Technologies LP Boosts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC raised its stake in shares of Broadridge Financial Solutions by 157.0% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after acquiring an additional 168 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Broadridge Financial Solutions by 44.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,777 shares of the business services provider’s stock valued at $979,000 after purchasing an additional 1,469 shares during the last quarter. Comerica Bank boosted its position in shares of Broadridge Financial Solutions by 5.0% in the 1st quarter. Comerica Bank now owns 45,797 shares of the business services provider’s stock worth $9,382,000 after purchasing an additional 2,182 shares in the last quarter. iA Global Asset Management Inc. grew its stake in Broadridge Financial Solutions by 53.1% during the 1st quarter. iA Global Asset Management Inc. now owns 2,435 shares of the business services provider’s stock worth $499,000 after buying an additional 845 shares during the last quarter. Finally, Swedbank AB acquired a new position in Broadridge Financial Solutions during the 1st quarter valued at about $4,951,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was 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 owns 27,788 shares in the company, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 17.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,294 shares of company stock valued at $16,944,095. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

BR has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. upped 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 note on Tuesday, August 20th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $222.43.

Broadridge Financial Solutions Stock Down 0.3 %

BR stock opened at $235.80 on Friday. The company has a market capitalization of $27.56 billion, a P/E ratio of 40.80 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $186.19 and a 12 month high of $237.74. The firm’s fifty day simple moving average is $218.97 and its 200-day simple moving average is $210.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 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.