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

AQR Capital Management LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,706 shares of the business services provider’s stock after buying an additional 8,527 shares during the quarter. AQR Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $12,944,000 as of its most recent SEC filing.

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

Broadridge Financial Solutions Stock Down 0.2 %

Shares of NYSE BR opened at $214.70 on Wednesday. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 36.64 and a beta of 1.05. The stock has a 50 day moving average price of $211.26 and a 200 day moving average price of $203.82. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly 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 business had revenue of $1.94 billion for 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 revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.21 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared 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 represents a $3.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BR shares. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada boosted their target price 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. Finally, JPMorgan Chase & Co. increased 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average price target of $213.33.

Insider Activity

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. The transaction 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 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 completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

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.