IFM Investors Pty Ltd Buys 2,222 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

IFM Investors Pty Ltd boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,060 shares of the business services provider's stock after buying an additional 2,222 shares during the period. IFM Investors Pty Ltd's holdings in Broadridge Financial Solutions were worth $7,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after purchasing an additional 1,186,555 shares during the period. GAMMA Investing LLC lifted its holdings in Broadridge Financial Solutions by 31,011.4% in the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock valued at $240,027,000 after purchasing an additional 986,782 shares in the last quarter. Norges Bank purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at about $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $104,466,000. Finally, Corient Private Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 882.9% during the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after acquiring an additional 392,695 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on BR. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Price Performance

BR stock traded up $0.36 during trading on Wednesday, hitting $237.89. The company had a trading volume of 224,411 shares, compared to its average volume of 526,502. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The company has a market cap of $27.94 billion, a P/E ratio of 35.77 and a beta of 0.94. The company has a fifty day moving average price of $239.47 and a two-hundred day moving average price of $235.91. Broadridge Financial Solutions, Inc. has a fifty-two week low of $198.71 and a fifty-two week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company earned $2.23 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Broadridge Financial Solutions Company 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.