Occudo Quantitative Strategies LP Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Occudo Quantitative Strategies LP purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,283 shares of the business services provider's stock, valued at approximately $2,099,000.

Several other institutional investors have also added to or reduced their stakes in BR. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $36,000. Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $41,000. Curio Wealth LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $45,000. Finally, Salem Investment Counselors Inc. lifted its position in Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider now owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. This represents a 8.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,473 shares of company stock valued at $29,072,366 over the last quarter. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. DA Davidson reaffirmed a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Stock Up 0.4%

Shares of Broadridge Financial Solutions stock traded up $1.00 during trading hours on Friday, reaching $241.32. 475,637 shares of the company were exchanged, compared to its average volume of 532,007. The firm has a market cap of $28.35 billion, a PE ratio of 37.76 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $192.68 and a 1 year high of $247.01. The stock's fifty day moving average is $233.92 and its 200 day moving average is $232.41.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $2.23 EPS. Broadridge Financial Solutions's revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions's payout ratio is currently 52.93%.

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.