AQR Capital Management LLC Acquires 8,527 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

AQR Capital Management LLC lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,706 shares of the business services provider’s stock after acquiring an additional 8,527 shares during the quarter. AQR Capital Management LLC owned approximately 0.06% of Broadridge Financial Solutions worth $12,944,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New England Research & Management Inc. bought a new position in Broadridge Financial Solutions in the 1st quarter worth $1,465,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after buying an additional 43,710 shares during the period. Tidal Investments LLC boosted its position in Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after acquiring an additional 8,837 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock worth $2,870,556,000 after acquiring an additional 110,886 shares during the period. Finally, QRG Capital Management Inc. raised its position in shares of Broadridge Financial Solutions by 72.7% in the 1st quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock worth $1,436,000 after acquiring an additional 2,950 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $214.70 on Wednesday. The firm has a market capitalization of $25.37 billion, a P/E ratio of 36.64 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The business has a fifty day moving average of $211.26 and a 200 day moving average of $203.82.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. 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 dividend on an annualized basis and a dividend yield of 1.64%. Broadridge Financial Solutions’s payout ratio is presently 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.