Quantinno Capital Management LP Sells 34,199 Shares of Broadridge Financial Solutions, Inc. $BR

Quantinno Capital Management LP cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 29.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,252 shares of the business services provider’s stock after selling 34,199 shares during the quarter. Quantinno Capital Management LP’s holdings in Broadridge Financial Solutions were worth $13,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. State Street Corp boosted its position in shares of Broadridge Financial Solutions by 6.7% in the fourth quarter. State Street Corp now owns 5,994,841 shares of the business services provider’s stock valued at $1,343,572,000 after acquiring an additional 375,699 shares during the period. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,354,869 shares of the business services provider’s stock worth $746,062,000 after purchasing an additional 12,524 shares in the last quarter. Barclays PLC boosted its holdings in Broadridge Financial Solutions by 1.8% in the 4th quarter. Barclays PLC now owns 2,007,968 shares of the business services provider’s stock valued at $448,118,000 after purchasing an additional 35,169 shares during the period. Northern Trust Corp grew its position in shares of Broadridge Financial Solutions by 6.6% during the 3rd quarter. Northern Trust Corp now owns 1,711,824 shares of the business services provider’s stock worth $407,705,000 after purchasing an additional 105,696 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $346,304,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BR shares. UBS Group decreased their price target on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Broadridge Financial Solutions in a report on Monday, June 22nd. Weiss Ratings lowered shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Needham & Company LLC lowered their price objective on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, DA Davidson reduced their target price on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $221.57.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $157.41 on Tuesday. The firm’s fifty day moving average price is $146.94 and its two-hundred day moving average price is $164.00. The stock has a market cap of $18.21 billion, a PE ratio of 16.85 and a beta of 0.87. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $271.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a dividend of $0.975 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.90 annualized dividend and a dividend yield of 2.5%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 41.76%.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,966 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the sale, the insider owned 1 shares in the company, valued at $155. The trade was a 99.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.