Intech Investment Management LLC Buys 14,721 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Intech Investment Management LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 120.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,932 shares of the business services provider's stock after buying an additional 14,721 shares during the period. Intech Investment Management LLC's holdings in Broadridge Financial Solutions were worth $5,306,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $32,000. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at about $34,000. Finally, Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the transaction, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.4 %

Shares of Broadridge Financial Solutions stock traded down $0.77 during trading on Friday, hitting $208.22. The stock had a trading volume of 1,172,574 shares, compared to its average volume of 531,024. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm's fifty day simple moving average is $210.46 and its 200-day simple moving average is $203.36. The stock has a market cap of $24.61 billion, a PE ratio of 35.53 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the previous year, the business earned $3.21 EPS. Broadridge Financial Solutions's revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.80. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 60.07%.

Analyst Ratings Changes

A number of equities analysts recently commented on BR shares. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. 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. DA Davidson reaffirmed a "neutral" rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.33.

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.