Worldquant Millennium Advisors LLC Acquires 75,349 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Worldquant Millennium Advisors LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 113.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,533 shares of the business services provider’s stock after purchasing an additional 75,349 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.12% of Broadridge Financial Solutions worth $30,434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BR. Bogart Wealth LLC raised its holdings in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $32,000. Rothschild Investment LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $32,000. True Wealth Design LLC raised its holdings in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $37,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $235.43 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The firm has a market capitalization of $27.52 billion, a price-to-earnings ratio of 40.73 and a beta of 1.07. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s 50-day simple moving average is $222.41 and its 200-day simple moving average is $211.58.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BR. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $222.43.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,066 shares of company stock valued at $16,006,777 over the last quarter. 1.30% of the stock is currently owned by company insiders.

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.