Qube Research & Technologies Ltd Invests $4.73 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Qube Research & Technologies Ltd purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 25,890 shares of the business services provider’s stock, valued at approximately $4,733,000.

Several other hedge funds have also recently bought and sold shares of BR. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Broadridge Financial Solutions by 156.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,268,126 shares of the business services provider’s stock worth $211,321,000 after acquiring an additional 774,130 shares during the period. Morgan Stanley grew its stake in shares of Broadridge Financial Solutions by 78.0% during the 3rd quarter. Morgan Stanley now owns 1,118,338 shares of the business services provider’s stock worth $186,361,000 after acquiring an additional 490,211 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $37,264,000. Renaissance Technologies LLC grew its stake in shares of Broadridge Financial Solutions by 73.2% during the 3rd quarter. Renaissance Technologies LLC now owns 322,400 shares of the business services provider’s stock worth $53,725,000 after acquiring an additional 136,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Broadridge Financial Solutions by 29.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 527,327 shares of the business services provider’s stock worth $96,406,000 after acquiring an additional 118,885 shares during the period. Institutional investors own 87.01% of the company’s stock.

Several brokerages have commented on BR. StockNews.com began coverage on Broadridge Financial Solutions in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Thursday, February 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $177.50.

Shares of NYSE BR opened at $136.60 on Thursday. The business has a 50-day simple moving average of $149.59 and a two-hundred day simple moving average of $159.32. Broadridge Financial Solutions, Inc. has a 52 week low of $132.68 and a 52 week high of $185.40. The company has a market cap of $16.01 billion, a P/E ratio of 29.31 and a beta of 0.95. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.29.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The business services provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.16. Broadridge Financial Solutions had a return on equity of 39.83% and a net margin of 9.99%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm posted $1.76 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 6.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th will be issued a $0.64 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $2.56 annualized dividend and a dividend yield of 1.87%. Broadridge Financial Solutions’s payout ratio is currently 54.94%.

Broadridge Financial Solutions Company Profile (Get Rating)

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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