Andra AP fonden lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,800 shares of the business services provider’s stock after selling 10,300 shares during the period. Andra AP fonden owned about 0.07% of Broadridge Financial Solutions worth $9,876,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its stake in Broadridge Financial Solutions by 144.8% in the second quarter. BNP Paribas Arbitrage SA now owns 85,311 shares of the business services provider’s stock valued at $9,819,000 after purchasing an additional 50,462 shares during the last quarter. TD Asset Management Inc. grew its stake in Broadridge Financial Solutions by 171.4% in the second quarter. TD Asset Management Inc. now owns 266,786 shares of the business services provider’s stock valued at $30,707,000 after purchasing an additional 168,501 shares during the last quarter. CIBC Asset Management Inc grew its stake in Broadridge Financial Solutions by 51.4% in the second quarter. CIBC Asset Management Inc now owns 18,360 shares of the business services provider’s stock valued at $2,113,000 after purchasing an additional 6,231 shares during the last quarter. Koch Industries Inc. grew its stake in Broadridge Financial Solutions by 127.1% in the first quarter. Koch Industries Inc. now owns 6,796 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 3,803 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in Broadridge Financial Solutions by 7.2% in the second quarter. BlueMountain Capital Management LLC now owns 100,154 shares of the business services provider’s stock valued at $11,528,000 after purchasing an additional 6,743 shares during the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

In other news, VP James M. Young sold 44,726 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $129.79, for a total transaction of $5,804,987.54. Following the sale, the vice president now owns 64,848 shares in the company, valued at $8,416,621.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Several equities analysts have issued reports on BR shares. ValuEngine lowered Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Wolfe Research started coverage on Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Sandler O’Neill reiterated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Finally, SunTrust Banks started coverage on Broadridge Financial Solutions in a research note on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $123.40.

BR opened at $134.79 on Tuesday. Broadridge Financial Solutions, Inc. has a 1 year low of $78.44 and a 1 year high of $138.24. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.28 and a current ratio of 1.28.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.01). Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be paid a dividend of $0.485 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.44%. Broadridge Financial Solutions’s payout ratio is presently 34.84%.

Broadridge Financial Solutions Profile

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

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