Quantinno Capital Management LP Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quantinno Capital Management LP grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,745 shares of the business services provider’s stock after purchasing an additional 1,266 shares during the period. Quantinno Capital Management LP’s holdings in Broadridge Financial Solutions were worth $2,526,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BR. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Broadridge Financial Solutions by 22.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock worth $7,191,000 after acquiring an additional 6,690 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 12.7% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,613 shares of the business services provider’s stock worth $515,000 after acquiring an additional 294 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Broadridge Financial Solutions by 1,378.3% during the 2nd quarter. ORG Partners LLC now owns 1,360 shares of the business services provider’s stock worth $267,000 after acquiring an additional 1,268 shares during the last quarter. Swedbank AB lifted its holdings in shares of Broadridge Financial Solutions by 1.0% during the 2nd quarter. Swedbank AB now owns 24,420 shares of the business services provider’s stock worth $4,811,000 after acquiring an additional 252 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Broadridge Financial Solutions in the second quarter worth $44,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on BR shares. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $235.90 on Wednesday. The company has a market cap of $27.57 billion, a price-to-earnings ratio of 40.81 and a beta of 1.07. The company has a 50-day moving average price of $223.21 and a 200-day moving average price of $212.19. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. Broadridge Financial Solutions’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared 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 annualized dividend 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%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s 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 sale, the insider now owns 27,137 shares in the company, valued at approximately $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, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 over the last 90 days. 1.30% of the stock is owned by company insiders.

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.