Palisades Hudson Asset Management L.P. cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,004 shares of the business services provider’s stock after selling 1,472 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Broadridge Financial Solutions were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in Broadridge Financial Solutions by 1,647.4% in the second quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock worth $542,669,000 after purchasing an additional 6,770,958 shares in the last quarter. Jensen Investment Management Inc. bought a new position in Broadridge Financial Solutions in the second quarter worth approximately $77,899,000. Principal Financial Group Inc. grew its stake in Broadridge Financial Solutions by 91.9% in the second quarter. Principal Financial Group Inc. now owns 1,408,096 shares of the business services provider’s stock worth $106,396,000 after purchasing an additional 674,307 shares in the last quarter. Alta Capital Management LLC grew its stake in Broadridge Financial Solutions by 133.0% in the third quarter. Alta Capital Management LLC now owns 454,536 shares of the business services provider’s stock worth $36,735,000 after purchasing an additional 259,450 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Broadridge Financial Solutions by 33.4% in the second quarter. TIAA CREF Investment Management LLC now owns 508,974 shares of the business services provider’s stock worth $38,458,000 after purchasing an additional 127,434 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the sale, the insider now 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. In the last 90 days, insiders have sold 119,720 shares of company stock valued at $9,679,916. 2.60% of the stock is owned by company insiders.

Shares of Broadridge Financial Solutions, Inc. (BR) traded up $0.62 during trading hours on Monday, reaching $88.45. The company had a trading volume of 638,400 shares, compared to its average volume of 452,397. Broadridge Financial Solutions, Inc. has a 52 week low of $60.25 and a 52 week high of $91.75. The company has a market capitalization of $10,310.00, a PE ratio of 26.56, a P/E/G ratio of 2.38 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. Broadridge Financial Solutions’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.

Several research analysts recently issued reports on BR shares. Barclays PLC increased their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. DA Davidson started coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective on the stock. Finally, BidaskClub raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd.

About Broadridge Financial Solutions

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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