Quantbot Technologies LP Takes $6.42 Million Position in Broadridge Financial Solutions, Inc. $BR

Quantbot Technologies LP purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,435 shares of the business services provider’s stock, valued at approximately $6,424,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewSquare Capital LLC grew its stake in shares of Broadridge Financial Solutions by 89.5% in the second quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock worth $26,000 after acquiring an additional 51 shares during the last quarter. ORG Partners LLC boosted its stake in Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Bank of Jackson Hole Trust grew its position in Broadridge Financial Solutions by 110.3% during the 2nd quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 64 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Broadridge Financial Solutions by 85.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after buying an additional 117 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In related news, President Christopher John Perry sold 3,984 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the transaction, the president owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. This represents a 8.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BR. Morgan Stanley cut their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. UBS Group lowered their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. Needham & Company LLC increased their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions Stock Up 0.5%

BR opened at $227.76 on Wednesday. The firm’s 50 day simple moving average is $228.92 and its two-hundred day simple moving average is $240.54. The company has a market capitalization of $26.59 billion, a PE ratio of 29.16 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 49.94%.

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.