Russell Investments Group Ltd. raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 43.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 140,455 shares of the business services provider’s stock after acquiring an additional 42,369 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Broadridge Financial Solutions worth $18,515,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley raised its stake in shares of Broadridge Financial Solutions by 112.5% during the 2nd quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock worth $297,411,000 after purchasing an additional 1,367,735 shares in the last quarter. Northern Trust Corp raised its stake in shares of Broadridge Financial Solutions by 11.4% during the 2nd quarter. Northern Trust Corp now owns 1,914,848 shares of the business services provider’s stock worth $220,399,000 after purchasing an additional 195,241 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Broadridge Financial Solutions by 28.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,477,573 shares of the business services provider’s stock worth $170,067,000 after purchasing an additional 330,694 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Broadridge Financial Solutions by 11.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,240,020 shares of the business services provider’s stock worth $142,765,000 after purchasing an additional 129,612 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Broadridge Financial Solutions by 16.9% during the 2nd quarter. Voya Investment Management LLC now owns 976,588 shares of the business services provider’s stock worth $112,405,000 after purchasing an additional 141,283 shares in the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.

BR opened at $108.68 on Thursday. Broadridge Financial Solutions, Inc. has a 1-year low of $86.80 and a 1-year high of $138.24. The company has a current ratio of 1.69, a quick ratio of 1.28 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $12.26 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. The business had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $970.19 million. During the same quarter in the prior year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 4.67 earnings per share for the current year.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 47,192 shares of the company’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total value of $6,328,919.12. Following the transaction, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at approximately $51,945,630.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James M. Young sold 44,726 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $129.79, for a total value of $5,804,987.54. Following the completion of the transaction, the vice president now directly owns 64,848 shares in the company, valued at $8,416,621.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 370,080 shares of company stock worth $48,514,337. 2.30% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on the company. SunTrust Banks assumed coverage on Broadridge Financial Solutions in a research note on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price target on the stock. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, August 10th. Sandler O’Neill restated a “hold” rating and issued a $130.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Finally, Wolfe Research assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $123.40.

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Broadridge Financial Solutions Company 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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