Kayne Anderson Rudnick Investment Management LLC grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,892 shares of the business services provider’s stock after acquiring an additional 3,437 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.39% of Broadridge Financial Solutions worth $34,901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its holdings in shares of Broadridge Financial Solutions by 0.5% in the first quarter. Xact Kapitalforvaltning AB now owns 9,785 shares of the business services provider’s stock valued at $665,000 after purchasing an additional 47 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Broadridge Financial Solutions by 0.9% in the second quarter. Alps Advisors Inc. now owns 7,760 shares of the business services provider’s stock valued at $586,000 after purchasing an additional 68 shares during the last quarter. World Asset Management Inc increased its holdings in shares of Broadridge Financial Solutions by 1.0% in the second quarter. World Asset Management Inc now owns 8,919 shares of the business services provider’s stock valued at $674,000 after purchasing an additional 91 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Broadridge Financial Solutions by 0.9% in the second quarter. Stanley Laman Group Ltd. now owns 9,905 shares of the business services provider’s stock valued at $748,000 after purchasing an additional 91 shares during the last quarter. Finally, Pacad Investment Ltd. increased its holdings in shares of Broadridge Financial Solutions by 1.3% in the second quarter. Pacad Investment Ltd. now owns 7,598 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.

Several equities research analysts recently commented on the company. BidaskClub cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. DA Davidson assumed coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target for the company. Finally, Barclays PLC increased their price target on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $76.00.

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Shares of Broadridge Financial Solutions, Inc. (BR) opened at 78.01 on Tuesday. The firm has a market cap of $9.09 billion, a PE ratio of 28.89 and a beta of 0.97. The company has a 50 day moving average price of $75.95 and a 200 day moving average price of $72.49. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $78.25.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $1.45 EPS. Broadridge Financial Solutions’s revenue was up 38.1% on a year-over-year basis. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share 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 paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.87%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is presently 48.35%.

In related news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the sale, the insider now directly owns 20,646 shares in the company, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. 3.50% of the stock is currently 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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