First Manhattan Co. continued to hold its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, Holdings Channel reports. The fund owned 3,323 shares of the business services provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Broadridge Financial Solutions were worth $251,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. First Bank & Trust raised its stake in shares of Broadridge Financial Solutions by 0.4% in the first quarter. First Bank & Trust now owns 10,476 shares of the business services provider’s stock valued at $712,000 after buying an additional 40 shares during the period. Xact Kapitalforvaltning AB raised its stake 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 buying an additional 47 shares during the period. World Asset Management Inc raised its stake 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 buying an additional 91 shares during the period. Wade G W & Inc. raised its stake in shares of Broadridge Financial Solutions by 1.2% in the first quarter. Wade G W & Inc. now owns 10,295 shares of the business services provider’s stock valued at $700,000 after buying an additional 125 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at 72.28 on Friday. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 28.31 and a beta of 0.99. The company has a 50-day moving average of $75.41 and a 200 day moving average of $71.43. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $78.00.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.01. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $1.45 EPS. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post $3.12 earnings per share for the current fiscal year.

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Several brokerages recently issued reports on BR. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. DA Davidson began coverage on shares of Broadridge Financial Solutions in a report on Monday. They issued a “neutral” rating and a $74.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $76.67.

In other news, insider Robert Schifellite sold 5,000 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $72.83, for a total value of $364,150.00. Following the transaction, the insider now directly owns 79,167 shares of the company’s stock, valued at approximately $5,765,732.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Laura Matlin sold 630 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the transaction, the vice president now directly owns 5,271 shares in the company, valued at $378,932.19. The disclosure for this sale can be found here. Insiders sold a total of 323,032 shares of company stock worth $24,016,648 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

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.

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

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