Pendal Group Ltd purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 11,455 shares of the business services provider’s stock, valued at approximately $1,511,000.

Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at about $106,000. Squar Milner Financial Services LLC acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $109,000. Bartlett & Co. LLC raised its position in shares of Broadridge Financial Solutions by 375.0% during the 2nd quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock worth $109,000 after acquiring an additional 750 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth about $129,000. Finally, Fort L.P. acquired a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $120,000. 84.55% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on BR. Zacks Investment Research lowered Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Sandler O’Neill reissued a “hold” rating and set a $130.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Wolfe Research began coverage on Broadridge Financial Solutions in a research report on Tuesday, July 17th. They set a “market perform” rating on the stock. Finally, SunTrust Banks began coverage on Broadridge Financial Solutions in a research report on Wednesday, August 29th. They set a “buy” rating and a $150.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $123.40.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 67,974 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the transaction, the chief executive officer now owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard J. Daly sold 210,188 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total value of $27,774,242.32. Following the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at approximately $51,182,579.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 325,354 shares of company stock worth $42,709,350. 2.30% of the stock is currently owned by corporate insiders.

Shares of NYSE BR opened at $107.21 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.28 and a debt-to-equity ratio of 0.93. Broadridge Financial Solutions, Inc. has a fifty-two week low of $86.80 and a fifty-two week high of $138.24. The stock has a market cap of $12.69 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. The business had revenue of $973.00 million for the quarter, compared to analyst estimates of $970.19 million. During the same quarter last year, the company earned $0.54 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.30%.

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About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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