Martingale Asset Management L P lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 27.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,771 shares of the business services provider’s stock after selling 22,600 shares during the quarter. Martingale Asset Management L P owned 0.05% of Broadridge Financial Solutions worth $4,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its position in Broadridge Financial Solutions by 0.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 9,785 shares of the business services provider’s stock valued at $665,000 after purchasing an additional 47 shares during the period. Alps Advisors Inc. increased its position in Broadridge Financial Solutions by 0.9% during the 2nd quarter. Alps Advisors Inc. now owns 7,760 shares of the business services provider’s stock valued at $586,000 after purchasing an additional 68 shares during the period. World Asset Management Inc increased its position in Broadridge Financial Solutions by 1.0% during the 2nd quarter. World Asset Management Inc now owns 8,919 shares of the business services provider’s stock valued at $674,000 after purchasing an additional 91 shares during the period. Stanley Laman Group Ltd. increased its position in Broadridge Financial Solutions by 0.9% during the 2nd quarter. Stanley Laman Group Ltd. now owns 9,905 shares of the business services provider’s stock valued at $748,000 after purchasing an additional 91 shares during the period. Finally, Pacad Investment Ltd. increased its position in Broadridge Financial Solutions by 1.3% during the 2nd quarter. Pacad Investment Ltd. now owns 7,598 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 98 shares during the period. 84.29% of the stock is owned by institutional investors.

Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at 79.30 on Friday. The firm has a market cap of $9.24 billion, a P/E ratio of 29.37 and a beta of 0.97. The firm’s 50-day moving average is $76.84 and its 200-day moving average is $73.09. Broadridge Financial Solutions, Inc. has a 52-week low of $59.86 and a 52-week high of $80.48.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $1.45 earnings per share. The firm’s revenue was up 38.1% on a year-over-year basis. Analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share for the current year.

The company 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. 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. This represents a $1.46 dividend on an annualized basis and a yield of 1.84%. Broadridge Financial Solutions’s dividend payout ratio is presently 48.35%.

A number of analysts have weighed in on the stock. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 target price for the company. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Barclays PLC increased 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 report on Friday, August 11th. Five analysts have rated the stock with a hold rating, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $74.00.

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In related news, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the transaction, the insider now directly owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the transaction, 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. 3.50% of the stock is currently owned by corporate insiders.

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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