Penserra Capital Management LLC Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Penserra Capital Management LLC boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 366.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,918 shares of the business services provider's stock after buying an additional 3,078 shares during the period. Penserra Capital Management LLC's holdings in Broadridge Financial Solutions were worth $949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock worth $3,231,904,000 after purchasing an additional 74,674 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadridge Financial Solutions by 50.0% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its holdings in Broadridge Financial Solutions by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock worth $684,971,000 after purchasing an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Broadridge Financial Solutions by 2.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock worth $378,175,000 after purchasing an additional 43,533 shares in the last quarter. Finally, Barclays PLC increased its holdings in Broadridge Financial Solutions by 2.5% during the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock worth $372,713,000 after purchasing an additional 40,506 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the sale, the insider owned 21,167 shares in the company, valued at $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $864,392.48. Following the sale, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock valued at $4,352,298 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $3.69 during trading on Friday, hitting $234.90. The stock had a trading volume of 639,405 shares, compared to its average volume of 528,364. Broadridge Financial Solutions, Inc. has a 1 year low of $200.63 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's 50 day moving average is $239.64 and its two-hundred day moving average is $236.08. The stock has a market cap of $27.59 billion, a price-to-earnings ratio of 35.32 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating 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 business 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 earnings per share. Broadridge Financial Solutions's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions's payout ratio is 52.93%.

About Broadridge Financial Solutions

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.