Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 941,125 shares of the business services provider’s stock after purchasing an additional 72,018 shares during the quarter. Dimensional Fund Advisors LP owned 0.80% of Broadridge Financial Solutions worth $185,417,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Robeco Institutional Asset Management B.V. raised its holdings in Broadridge Financial Solutions by 206.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock worth $412,000 after purchasing an additional 134,911 shares during the last quarter. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $67,605,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Broadridge Financial Solutions by 5.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,669 shares of the business services provider’s stock worth $961,000 after acquiring an additional 262 shares during the last quarter. UBS Group AG raised its holdings in shares of Broadridge Financial Solutions by 8.2% in the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after acquiring an additional 14,147 shares during the last quarter. Finally, Balentine LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $201,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total transaction of $34,020.00. Following the sale, the president now owns 67,267 shares in the company, valued at $14,126,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 over the last quarter. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. DA Davidson reissued a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Price Performance

BR stock opened at $208.99 on Friday. The stock has a 50-day moving average price of $210.29 and a two-hundred day moving average price of $203.28. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market cap of $24.70 billion, a PE ratio of 35.66 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business earned $3.21 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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.