Y Intercept Hong Kong Ltd Takes Position in Broadridge Financial Solutions, Inc. $BR

Y Intercept Hong Kong Ltd acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,823 shares of the business services provider’s stock, valued at approximately $1,658,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ORG Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after acquiring an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of Broadridge Financial Solutions by 85.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 57 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in Broadridge Financial Solutions by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $36,000. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Christopher John Perry sold 7,036 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the transaction, the chief executive officer owned 143,285 shares of the company’s stock, valued at $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Down 0.3%

Shares of Broadridge Financial Solutions stock opened at $220.40 on Friday. The stock has a market cap of $25.72 billion, a P/E ratio of 31.09 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 12-month low of $208.20 and a 12-month high of $271.91. The business’s 50 day moving average is $240.25 and its 200-day moving average is $242.25.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $1.05 billion for the quarter. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s payout ratio is currently 55.01%.

Analysts Set New Price Targets

BR has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Needham & Company LLC increased their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $265.67.

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.