Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 8.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $580,000. Jones Financial Companies Lllp lifted its stake in shares of Broadridge Financial Solutions by 33.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,353 shares of the business services provider's stock valued at $758,000 after purchasing an additional 839 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $79,000. Steward Partners Investment Advisory LLC increased its position in Broadridge Financial Solutions by 10.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 14,178 shares of the business services provider's stock valued at $3,205,000 after acquiring an additional 1,312 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Broadridge Financial Solutions by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 684,789 shares of the business services provider's stock valued at $154,824,000 after purchasing an additional 23,376 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $3.08 on Tuesday, hitting $237.48. 377,263 shares of the company were exchanged, compared to its average volume of 527,463. Broadridge Financial Solutions, Inc. has a 1-year low of $198.71 and a 1-year high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $27.89 billion, a price-to-earnings ratio of 35.71 and a beta of 0.94. The company has a 50-day moving average price of $239.47 and a 200 day moving average price of $235.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the company posted $2.23 earnings per share. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were issued a $0.88 dividend. The ex-dividend date was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.48%. Broadridge Financial Solutions's payout ratio is 52.93%.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president directly owned 6,077 shares in the company, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela L. Carter sold 4,829 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the sale, the director directly owned 7,242 shares of the company's stock, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by company insiders.

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.