TimesSquare Capital Management LLC lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 897,900 shares of the business services provider’s stock after selling 198,250 shares during the quarter. TimesSquare Capital Management LLC owned about 0.76% of Broadridge Financial Solutions worth $67,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in BR. Xact Kapitalforvaltning AB boosted its holdings 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 acquiring an additional 47 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.9% in the second quarter. Alps Advisors Inc. now owns 7,760 shares of the business services provider’s stock valued at $586,000 after acquiring an additional 68 shares in the last quarter. World Asset Management Inc boosted its holdings 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 acquiring an additional 91 shares in the last quarter. Stanley Laman Group Ltd. boosted its holdings in shares of Broadridge Financial Solutions by 0.9% in the second quarter. Stanley Laman Group Ltd. now owns 9,905 shares of the business services provider’s stock valued at $748,000 after acquiring an additional 91 shares in the last quarter. Finally, Pacad Investment Ltd. boosted its holdings in shares of Broadridge Financial Solutions by 1.3% in the second quarter. Pacad Investment Ltd. now owns 7,598 shares of the business services provider’s stock valued at $574,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 84.27% of the company’s stock.

In related news, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the sale, the insider now directly owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now directly owns 39,747 shares of the company’s stock, valued at $3,043,825.26. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

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Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 79.08 on Friday. The company’s 50-day moving average is $76.39 and its 200-day moving average is $72.79. The company has a market capitalization of $9.21 billion, a PE ratio of 29.29 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $79.49.

Broadridge Financial Solutions (NYSE:BR) last posted 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. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. Equities analysts predict that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.85%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, September 14th. Broadridge Financial Solutions’s payout ratio is 48.35%.

Several research analysts have recently issued reports on BR shares. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Barclays PLC increased their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, DA Davidson started coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $76.00.

Broadridge Financial Solutions 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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