Advisor Partners LLC bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, Holdings Channel reports. The fund bought 3,180 shares of the business services provider’s stock, valued at approximately $240,000.

A number of other institutional investors also recently bought and sold shares of BR. First Bank & Trust boosted its position in 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 in the last quarter. Xact Kapitalforvaltning AB boosted its position in 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 in the last quarter. World Asset Management Inc boosted its position in 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 in the last quarter. Wade G W & Inc. boosted its position in 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 in the last quarter. Finally, Van ECK Associates Corp boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) opened at 74.27 on Friday. The company has a market cap of $8.65 billion, a PE ratio of 27.51 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00. The stock has a 50 day moving average of $75.36 and a 200 day moving average of $71.49.

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 for the quarter, hitting the Zacks’ consensus estimate of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The company’s revenue was up 38.1% on a year-over-year basis. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post $3.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.365 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.97%. Broadridge Financial Solutions’s payout ratio is presently 48.35%.

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Several research firms have issued reports on BR. BidaskClub cut shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays PLC upped their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, DA Davidson began coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $76.00.

In related news, insider Robert Schifellite sold 76,666 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the completion of the sale, the insider now owns 105,042 shares of the company’s stock, valued at $7,981,091.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 34,385 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $75.17, for a total value of $2,584,720.45. Following the sale, the insider now directly owns 106,653 shares of the company’s stock, valued at approximately $8,017,106.01. 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 ninety days. Corporate insiders own 3.50% of the company’s stock.

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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