Schroder Investment Management Group lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 79.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the business services provider’s stock after selling 272,478 shares during the period. Schroder Investment Management Group owned approximately 0.06% of Broadridge Financial Solutions worth $5,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dearborn Partners LLC increased its holdings in Broadridge Financial Solutions by 3.4% in the 2nd quarter. Dearborn Partners LLC now owns 227,247 shares of the business services provider’s stock valued at $17,171,000 after purchasing an additional 7,378 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at approximately $212,000. Ffcm LLC increased its holdings in Broadridge Financial Solutions by 7.3% in the 2nd quarter. Ffcm LLC now owns 4,552 shares of the business services provider’s stock valued at $344,000 after purchasing an additional 308 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Broadridge Financial Solutions by 0.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 461,892 shares of the business services provider’s stock valued at $34,901,000 after purchasing an additional 3,437 shares during the last quarter. Finally, Long Road Investment Counsel LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at approximately $1,290,000. Institutional investors and hedge funds own 83.77% of the company’s stock.

BR has been the subject of several research reports. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price for the company. Finally, Barclays PLC lifted 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 report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $74.00.

Shares of Broadridge Financial Solutions, Inc. (NYSE BR) opened at 79.11 on Wednesday. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $80.48. The company has a 50-day moving average of $77.13 and a 200 day moving average of $73.33. The firm has a market cap of $9.21 billion, a P/E ratio of 29.30 and a beta of 0.97.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, hitting the 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 during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $1.45 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given 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 annualized dividend and a yield of 1.85%. Broadridge Financial Solutions’s dividend payout ratio is 53.48%.

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In related news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the transaction, the director now owns 39,747 shares of the company’s stock, valued at $3,043,825.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s 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 transaction, the insider now directly owns 20,646 shares of the company’s stock, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. Corporate 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.

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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