Intech Investment Management LLC Has $5.31 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Intech Investment Management LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 120.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,932 shares of the business services provider’s stock after acquiring an additional 14,721 shares during the quarter. Intech Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $5,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Robeco Institutional Asset Management B.V. boosted its stake in Broadridge Financial Solutions by 206.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock valued at $412,000 after acquiring an additional 134,911 shares during the last quarter. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $67,605,000. UBS Group AG boosted its position in shares of Broadridge Financial Solutions by 8.2% in the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after purchasing an additional 14,147 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Broadridge Financial Solutions by 10.8% during the fourth quarter. CreativeOne Wealth LLC now owns 1,270 shares of the business services provider’s stock worth $261,000 after purchasing an additional 124 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Broadridge Financial Solutions by 27.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted 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 report on Tuesday, August 20th. Finally, 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock valued at $28,112,824 in the last quarter. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Down 0.4 %

Broadridge Financial Solutions stock opened at $208.22 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average of $210.46 and a 200-day moving average of $203.36. The stock has a market capitalization of $24.61 billion, a PE ratio of 35.53 and a beta of 1.05.

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

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.69%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

About Broadridge Financial Solutions

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.