Rothschild Asset Management Inc. decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,188 shares of the business services provider’s stock after selling 17 shares during the period. Rothschild Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position 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 worth $123,000 after buying an additional 135 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock worth $202,000 after buying an additional 174 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock worth $230,000 after buying an additional 478 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth approximately $233,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Broadridge Financial Solutions by 13.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,450 shares of the business services provider’s stock worth $234,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) opened at 74.27 on Friday. The firm’s 50-day moving average is $75.36 and its 200-day moving average is $71.49. 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.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue was up 38.1% compared to the same quarter last year. On average, analysts expect that Broadridge Financial Solutions, Inc. will post $3.66 EPS for the current fiscal year.

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

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A number of brokerages have commented on BR. 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 price target for the company. BidaskClub cut shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Barclays PLC raised their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $76.00.

In other news, insider Robert Schifellite sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $72.83, for a total transaction of $364,150.00. Following the completion of the sale, the insider now owns 79,167 shares of the company’s stock, valued at approximately $5,765,732.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $45,290.70. Following 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. In the last 90 days, insiders have sold 323,032 shares of company stock worth $24,016,648. Company 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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