Grantham Mayo Van Otterloo & Co. LLC Makes New Investment in Broadridge Financial Solutions, Inc. $BR

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,840 shares of the business services provider’s stock, valued at approximately $690,000.

A number of other hedge funds have also made changes to their positions in the stock. NewSquare Capital LLC raised its holdings in Broadridge Financial Solutions by 89.5% in the second quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 51 shares in the last quarter. ORG Partners LLC increased its position in shares of Broadridge Financial Solutions by 360.0% in the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares during the last quarter. Bank of Jackson Hole Trust raised its stake in shares of Broadridge Financial Solutions by 110.3% in the 2nd quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 64 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Broadridge Financial Solutions by 85.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 3,984 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total value of $900,384.00. Following the sale, the president owned 44,829 shares in the company, valued at approximately $10,131,354. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday, November 24th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group dropped their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. DA Davidson reaffirmed a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Finally, Needham & Company LLC boosted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $259.83.

Broadridge Financial Solutions Trading Down 0.7%

NYSE:BR opened at $226.44 on Tuesday. The firm has a market capitalization of $26.43 billion, a P/E ratio of 28.99 and a beta of 0.99. The business has a 50 day simple moving average of $229.14 and a 200 day simple moving average of $240.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results 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 43.28% and a net margin of 13.11%.The firm had revenue of $1.05 billion for the quarter. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions’s payout ratio is presently 49.94%.

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.