Retirement Systems of Alabama reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,577 shares of the business services provider’s stock after selling 1,119 shares during the period. Retirement Systems of Alabama’s holdings in Broadridge Financial Solutions were worth $11,453,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Macquarie Group Ltd. increased its stake in shares of Broadridge Financial Solutions by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 65,476 shares of the business services provider’s stock valued at $4,342,000 after buying an additional 7,200 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Broadridge Financial Solutions by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock valued at $839,000 after buying an additional 2,092 shares in the last quarter. Confluence Investment Management LLC increased its stake in shares of Broadridge Financial Solutions by 2.6% in the second quarter. Confluence Investment Management LLC now owns 994,106 shares of the business services provider’s stock valued at $75,115,000 after buying an additional 25,421 shares in the last quarter. Morgan Stanley increased its stake in shares of Broadridge Financial Solutions by 47.0% in the first quarter. Morgan Stanley now owns 454,416 shares of the business services provider’s stock valued at $30,878,000 after buying an additional 145,274 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Broadridge Financial Solutions by 8.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 358,543 shares of the business services provider’s stock valued at $24,363,000 after buying an additional 28,636 shares in the last quarter. 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 firm has a market capitalization of $8.50 billion, a P/E ratio of 28.31 and a beta of 0.99. The stock’s 50 day moving average price is $75.41 and its 200 day moving average price is $71.43. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00.

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

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BR has been the subject of several recent analyst reports. BidaskClub downgraded Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. DA Davidson initiated coverage on Broadridge Financial Solutions in a research note on Monday. They set a “neutral” rating and a $74.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $76.67.

In related news, SVP Christopher John Perry sold 73,936 shares of Broadridge Financial Solutions stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $72.57, for a total value of $5,365,535.52. Following the transaction, the senior vice president now owns 91,276 shares in the company, valued at approximately $6,623,899.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 630 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 15th. The stock was sold at an average price of $71.89, for a total transaction of $45,290.70. Following the completion of the transaction, the vice president now owns 5,271 shares in the company, valued at approximately $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 in the last quarter. 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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