MQS Management LLC Takes $269,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

MQS Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,364 shares of the business services provider’s stock, valued at approximately $269,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Broadridge Financial Solutions by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after purchasing an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Broadridge Financial Solutions by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after acquiring an additional 28,180 shares during the period. Capital International Investors lifted its position in Broadridge Financial Solutions by 0.3% during the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after acquiring an additional 7,970 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Broadridge Financial Solutions by 3.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after acquiring an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in shares of Broadridge Financial Solutions by 0.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after purchasing an additional 6,634 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the sale, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions 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 transaction, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions Stock Down 0.4 %

BR opened at $208.22 on Friday. The company has a market capitalization of $24.61 billion, a P/E ratio of 35.53 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. The firm’s fifty day moving average price is $210.46 and its two-hundred day moving average price is $203.34. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate 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. Investors of record on Thursday, September 12th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) 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.