Eaton Vance Management grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,086 shares of the business services provider’s stock after acquiring an additional 363 shares during the period. Eaton Vance Management’s holdings in Broadridge Financial Solutions were worth $1,442,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in BR. Global X Management Co. LLC grew its holdings in shares of Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 600 shares in the last quarter. Van ECK Associates Corp grew its holdings 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 valued at $123,000 after purchasing an additional 135 shares in the last quarter. Airain ltd acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $204,000. Finally, Fiduciary Trust Co. acquired a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $212,000. 83.77% of the stock is currently owned by institutional investors and hedge funds.

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Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 79.87 on Friday. 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 $9.30 billion, a PE ratio of 29.58 and a beta of 0.97. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $80.48.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, meeting the Thomson Reuters’ 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 last year, the firm 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. On average, equities research 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 issued a $0.365 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.46 annualized dividend and a yield of 1.83%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 53.48%.

A number of brokerages recently weighed in on BR. BidaskClub cut shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. DA Davidson began 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. Finally, Barclays PLC lifted 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. Five equities research analysts have rated the stock with a hold rating, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $74.00.

In related news, Director Stuart R. Levine sold 7,868 shares of the firm’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 value of $602,531.44. Following the transaction, the director now owns 39,747 shares in the company, valued at $3,043,825.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the firm’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 transaction, the insider now owns 20,646 shares in the company, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. 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.

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

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