Algert Global LLC Purchases Shares of 2,520 Broadridge Financial Solutions, Inc. (NYSE:BR)

Algert Global LLC acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,520 shares of the business services provider’s stock, valued at approximately $542,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. Bahl & Gaynor Inc. increased its holdings in 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 worth $218,447,000 after purchasing an additional 6,634 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after acquiring an additional 72,018 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Broadridge Financial Solutions by 3.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock valued at $157,741,000 after acquiring an additional 28,614 shares during the period. abrdn plc lifted its position in shares of Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after acquiring an additional 27,869 shares during the period. Finally, Raymond James & Associates boosted its stake in Broadridge Financial Solutions by 1.3% during the second quarter. Raymond James & Associates now owns 404,049 shares of the business services provider’s stock worth $79,598,000 after acquiring an additional 5,256 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated 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 transaction, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The trade was a 25.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,294 shares of company stock valued at $16,944,095 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the topic of several research reports. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective for the company. Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $222.43.

Broadridge Financial Solutions Trading Up 0.1 %

NYSE BR opened at $236.02 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $220.06 and a 200 day simple moving average of $210.47. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.74. The firm has a market capitalization of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

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.