Broadridge Financial Solutions, Inc. $BR Shares Purchased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 85.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124 shares of the business services provider’s stock after acquiring an additional 57 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Broadridge Financial Solutions were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BR. Brighton Jones LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $580,000. GAMMA Investing LLC lifted its position in Broadridge Financial Solutions by 28.3% during the 1st quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock worth $990,000 after acquiring an additional 901 shares during the period. Oppenheimer & Co. Inc. lifted its position in Broadridge Financial Solutions by 2.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,985 shares of the business services provider’s stock worth $966,000 after acquiring an additional 109 shares during the period. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Finally, Perigon Wealth Management LLC lifted its position in Broadridge Financial Solutions by 8.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,494 shares of the business services provider’s stock worth $362,000 after acquiring an additional 119 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $232.36 on Monday. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91. The company has a market capitalization of $27.12 billion, a P/E ratio of 32.77 and a beta of 0.95. The business has a 50 day moving average price of $243.96 and a 200 day moving average price of $242.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm had revenue of $1.05 billion during the quarter. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were paid a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.01%.

Analyst Ratings Changes

BR has been the subject of a number of recent research reports. Wall Street Zen cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC increased their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $261.50.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 84,571 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the transaction, the chief executive officer directly owned 165,634 shares of the company’s stock, valued at $42,986,992.02. The trade was a 33.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

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.