Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 434.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,606 shares of the business services provider's stock after purchasing an additional 6,183 shares during the period. iA Global Asset Management Inc.'s holdings in Broadridge Financial Solutions were worth $1,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its stake in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock worth $26,000 after buying an additional 96 shares during the period. True Wealth Design LLC boosted its stake in Broadridge Financial Solutions by 2,028.6% during the third 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 period. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $38,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Christopher John Perry sold 17,534 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at $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. In the last ninety days, insiders have sold 72,066 shares of company stock worth $16,006,777. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded down $1.72 during midday trading on Monday, reaching $233.71. The stock had a trading volume of 423,488 shares, compared to its average volume of 520,940. The firm has a fifty day simple moving average of $222.41 and a two-hundred day simple moving average of $211.72. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market cap of $27.32 billion, a P/E ratio of 40.73 and a beta of 1.07.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.51%. Broadridge Financial Solutions's payout ratio is currently 60.90%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BR shares. UBS Group started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a "neutral" rating and a $250.00 price objective for the company. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Royal Bank of Canada reissued an "outperform" rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $222.43.

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.