Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 14.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,706 shares of the business services provider's stock after purchasing an additional 8,527 shares during the period. AQR Capital Management LLC owned 0.06% of Broadridge Financial Solutions worth $12,944,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BR shares. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Finally, DA Davidson restated a "neutral" rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $213.33.

Insider Buying and Selling

In related news, VP Laura Matlin sold 673 shares of the business's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company's stock, valued at approximately $41,963,149.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.94 during mid-day trading on Wednesday, reaching $213.75. 499,244 shares of the company traded hands, compared to its average volume of 530,828. The firm's fifty day moving average is $211.26 and its two-hundred day moving average is $203.82. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 36.64 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week 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.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.65%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.80. Broadridge Financial Solutions's dividend payout ratio is currently 60.07%.

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.