Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Boosted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 121.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,561 shares of the business services provider's stock after purchasing an additional 6,336 shares during the period. Y Intercept Hong Kong Ltd's holdings in Broadridge Financial Solutions were worth $2,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bogart Wealth LLC raised its holdings in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC boosted its stake in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after buying an additional 142 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 1.0 %

Shares of BR traded up $2.33 during mid-day trading on Tuesday, reaching $235.90. 341,775 shares of the stock traded hands, compared to its average volume of 520,192. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 40.81 and a beta of 1.07. The stock has a fifty day simple moving average of $223.21 and a 200 day simple moving average of $212.19. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is presently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock valued at $12,264,846 in the last three months. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a "neutral" rating and a $250.00 price target for the company. DA Davidson increased their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated an "outperform" rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $226.71.

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.