Cullen Frost Bankers Inc. cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.0% during the second quarter, Holdings Channel reports. The fund owned 66,172 shares of the business services provider’s stock after selling 9,914 shares during the period. Cullen Frost Bankers Inc.’s holdings in Broadridge Financial Solutions were worth $5,000,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BR. BlackRock Inc. increased its stake in 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 worth $819,107,000 after buying an additional 11,849,968 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 worth $686,373,000 after buying an additional 369,176 shares during the last quarter. Janus Capital Management LLC increased its stake in Broadridge Financial Solutions by 2.4% in the first quarter. Janus Capital Management LLC now owns 7,882,947 shares of the business services provider’s stock worth $535,646,000 after buying an additional 187,411 shares during the last quarter. State Street Corp increased its stake in Broadridge Financial Solutions by 0.8% in the first quarter. State Street Corp now owns 4,345,508 shares of the business services provider’s stock worth $295,283,000 after buying an additional 33,020 shares during the last quarter. Finally, Clarkston Capital Partners LLC increased its stake in Broadridge Financial Solutions by 5.9% in the second quarter. Clarkston Capital Partners LLC now owns 1,389,035 shares of the business services provider’s stock worth $104,955,000 after buying an additional 76,776 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 75.66 on Monday. The stock has a 50 day moving average of $75.52 and a 200-day moving average of $71.08. Broadridge Financial Solutions, Inc. has a 1-year low of $59.86 and a 1-year high of $78.00. The firm has a market capitalization of $8.90 billion, a P/E ratio of 29.64 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, May 10th. The business services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.10. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.65 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. Broadridge Financial Solutions’s revenue was up 46.4% on a year-over-year basis. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post $3.12 earnings per share for the current year.

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A number of equities research analysts have recently weighed in on BR shares. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $75.00.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $72.83, for a total value of $364,150.00. Following the completion of the sale, the insider now owns 79,167 shares of the company’s stock, valued at $5,765,732.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laura Matlin sold 630 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the sale, the vice president now directly owns 5,271 shares of the company’s stock, valued at approximately $378,932.19. The disclosure for this sale can be found here. Insiders have sold 323,032 shares of company stock valued at $24,016,648 in the last three months. 3.50% of the stock is owned by insiders.

About Broadridge Financial Solutions

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.

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

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