Vinva Investment Management Ltd Acquires 2,269 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Vinva Investment Management Ltd boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 50.4% in the third quarter, HoldingsChannel reports. The firm owned 6,771 shares of the business services provider’s stock after purchasing an additional 2,269 shares during the period. Vinva Investment Management Ltd’s holdings in Broadridge Financial Solutions were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in shares of 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 in the last quarter. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the second quarter valued at $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions in the second quarter valued at $32,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at about $38,000. Finally, Family Firm Inc. bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BR. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s 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 Price Performance

Shares of NYSE:BR opened at $236.02 on Friday. 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 cap of $27.59 billion, a PE ratio of 40.83 and a beta of 1.05. The stock’s fifty day simple moving average is $219.51 and its two-hundred day simple moving average is $210.20. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.74.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results 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 company 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 earned $1.09 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Insider Activity

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction on 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 completion of the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This trade represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,294 shares of company stock valued at $16,944,095 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company 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.