Broadridge Financial Solutions, Inc. (BR) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 238.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,659 shares of the business services provider’s stock after buying an additional 12,436 shares during the period. Penserra Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $2,329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Broadridge Financial Solutions by 2.1% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,561 shares of the business services provider’s stock worth $2,251,000 after purchasing an additional 405 shares in the last quarter. Advisor Partners LLC increased its stake in shares of Broadridge Financial Solutions by 10.4% during the 2nd quarter. Advisor Partners LLC now owns 4,616 shares of the business services provider’s stock worth $531,000 after purchasing an additional 433 shares in the last quarter. Mcrae Capital Management Inc. increased its stake in shares of Broadridge Financial Solutions by 1.2% during the 2nd quarter. Mcrae Capital Management Inc. now owns 41,605 shares of the business services provider’s stock worth $4,789,000 after purchasing an additional 490 shares in the last quarter. Oakbrook Investments LLC boosted its position in Broadridge Financial Solutions by 11.3% during the second quarter. Oakbrook Investments LLC now owns 4,898 shares of the business services provider’s stock worth $564,000 after acquiring an additional 498 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in Broadridge Financial Solutions by 4.3% during the second quarter. Xact Kapitalforvaltning AB now owns 13,066 shares of the business services provider’s stock worth $1,504,000 after acquiring an additional 538 shares during the last quarter. 84.55% of the stock is owned by institutional investors.

A number of analysts recently issued reports on BR shares. SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, August 29th. They set a “buy” rating and a $150.00 target price on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Friday, August 10th. Wolfe Research started coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, July 17th. They set a “market perform” rating on the stock. Finally, Sandler O’Neill restated a “hold” rating and set a $130.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $123.40.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 47,192 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $134.11, for a total value of $6,328,919.12. Following the transaction, the chief executive officer now owns 387,336 shares in the company, valued at approximately $51,945,630.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Daly sold 67,974 shares of Broadridge Financial Solutions stock in a transaction on Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the completion of the transaction, the chief executive officer now owns 233,673 shares in the company, valued at approximately $29,585,338.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,354 shares of company stock worth $42,709,350. 2.30% of the stock is owned by company insiders.

Shares of NYSE BR opened at $107.21 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $86.80 and a 1 year high of $138.24. The company has a market cap of $12.69 billion, a P/E ratio of 25.59, a PEG ratio of 2.32 and a beta of 0.95. The company has a current ratio of 1.69, a quick ratio of 1.28 and a debt-to-equity ratio of 0.93.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The firm had revenue of $973.00 million for the quarter, compared to analyst estimates of $970.19 million. During the same quarter last year, the business earned $0.54 earnings per share. Broadridge Financial Solutions’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be given a dividend of $0.485 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.94 dividend on an annualized basis and a yield of 1.81%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.

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Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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