Hilton Capital Management LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 252,208 shares of the business services provider’s stock after selling 261 shares during the period. Broadridge Financial Solutions accounts for 3.5% of Hilton Capital Management LLC’s holdings, making the stock its 7th largest position. Hilton Capital Management LLC owned about 0.21% of Broadridge Financial Solutions worth $19,057,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BR. BlackRock Inc. boosted its stake in shares of Broadridge Financial Solutions by 5,792.7% in the first quarter. BlackRock Inc. now owns 12,054,537 shares of the business services provider’s stock valued at $819,107,000 after buying an additional 11,849,968 shares during the period. Vanguard Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 3.8% in the first quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock valued at $686,373,000 after buying an additional 369,176 shares during the period. Independence Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $21,006,000. Scout Investments Inc. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at $14,727,000. Finally, Baird Financial Group Inc. boosted its stake in shares of Broadridge Financial Solutions by 53.0% in the first quarter. Baird Financial Group Inc. now owns 646,253 shares of the business services provider’s stock valued at $43,913,000 after buying an additional 223,959 shares during the period. 85.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded up 0.37% during trading on Friday, reaching $76.87. 550,510 shares of the company’s stock traded hands. Broadridge Financial Solutions, Inc. has a 1-year low of $59.86 and a 1-year high of $78.00. The stock has a market capitalization of $8.95 billion, a PE ratio of 28.47 and a beta of 0.99. The company has a 50 day moving average price of $75.62 and a 200 day moving average price of $72.15.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.71. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. Broadridge Financial Solutions’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the company earned $1.45 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 48.35%.

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BR has been the topic of several recent analyst reports. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Barclays PLC increased their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $76.00.

In related news, insider Douglas Richard Deschutter sold 34,385 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $75.17, for a total transaction of $2,584,720.45. Following the completion of the transaction, the insider now owns 106,653 shares in the company, valued at approximately $8,017,106.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the transaction, the insider now owns 20,646 shares of the company’s stock, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. Insiders have sold a total of 136,732 shares of company stock valued at $10,383,223 in the last 90 days. 3.50% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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

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