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

Penserra Capital Management LLC raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 366.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,918 shares of the business services provider's stock after purchasing 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 institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $29,000. Whipplewood Advisors LLC boosted its stake in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after buying an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $34,000. Continuum Advisory LLC boosted its stake in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after buying an additional 46 shares during the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $36,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider directly owned 1,070 shares in the company, valued at $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president owned 6,077 shares in the company, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Broadridge Financial Solutions Stock Down 1.5%

NYSE BR traded down $3.69 during trading hours on Friday, hitting $234.90. 639,405 shares of the company were exchanged, compared to its average volume of 529,134. The company has a 50 day moving average of $239.64 and a two-hundred day moving average of $236.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a 52-week low of $200.63 and a 52-week high of $247.01. The firm 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 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 44.82% and a net margin of 11.65%. 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. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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