Quest Partners LLC Acquires New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quest Partners LLC purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,467 shares of the business services provider's stock, valued at approximately $2,251,000.

Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Broadridge Financial Solutions by 4.1% during the 1st quarter. Sei Investments Co. now owns 19,637 shares of the business services provider's stock worth $4,021,000 after purchasing an additional 779 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Broadridge Financial Solutions by 43.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,175 shares of the business services provider's stock worth $2,699,000 after acquiring an additional 3,973 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in Broadridge Financial Solutions by 383.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 6,030 shares of the business services provider's stock worth $1,235,000 after acquiring an additional 4,783 shares during the period. Bessemer Group Inc. raised its holdings in Broadridge Financial Solutions by 1.6% in the 1st quarter. Bessemer Group Inc. now owns 7,012 shares of the business services provider's stock valued at $1,436,000 after acquiring an additional 109 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Broadridge Financial Solutions by 14.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 134,426 shares of the business services provider's stock worth $27,539,000 after purchasing an additional 17,242 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company's stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the sale, the chief executive officer now owns 206,349 shares of the company's stock, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,534 shares of company stock worth $24,748,962 over the last quarter. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $217.83.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded down $2.24 during mid-day trading on Tuesday, hitting $224.84. The stock had a trading volume of 382,857 shares, compared to its average volume of 519,390. The company has a 50 day simple moving average of $216.28 and a 200-day simple moving average of $208.45. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 38.90 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $182.57 and a 52 week high of $230.00.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions's dividend payout ratio is 60.90%.

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.