Squarepoint Ops LLC Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Squarepoint Ops LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 252.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,070 shares of the business services provider's stock after purchasing an additional 7,927 shares during the period. Squarepoint Ops LLC's holdings in Broadridge Financial Solutions were worth $2,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Gen Wealth Partners Inc bought a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $36,000. Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $41,000. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at about $52,000. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, President Christopher John Perry sold 22,357 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at $12,355,220.52. The trade was a 29.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 completion of the sale, the director now owns 7,242 shares in the company, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,873 shares of company stock valued at $31,337,863 in the last ninety days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded up $2.89 during trading hours on Friday, hitting $242.61. 1,379,327 shares of the company's stock were exchanged, compared to its average volume of 523,871. The company has a market capitalization of $28.50 billion, a PE ratio of 37.97 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The business's 50 day simple moving average is $235.89 and its 200-day simple moving average is $234.19.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted 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 net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $2.23 earnings per share. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. On average, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.45%. Broadridge Financial Solutions's payout ratio is 52.93%.

Wall Street Analyst Weigh In

BR has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC started 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. UBS Group raised 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 note on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $250.83.

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.