Millennium Management LLC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 553.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 601,086 shares of the business services provider’s stock after purchasing an additional 509,066 shares during the period. Millennium Management LLC owned 0.52% of Broadridge Financial Solutions worth $69,185,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BR. Morgan Stanley increased its position in shares of Broadridge Financial Solutions by 112.5% during the second quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock valued at $297,411,000 after acquiring an additional 1,367,735 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Broadridge Financial Solutions by 28.8% during the second quarter. Wells Fargo & Company MN now owns 1,477,573 shares of the business services provider’s stock valued at $170,067,000 after acquiring an additional 330,694 shares during the last quarter. Boston Advisors LLC increased its position in shares of Broadridge Financial Solutions by 387.4% during the second quarter. Boston Advisors LLC now owns 383,801 shares of the business services provider’s stock valued at $44,175,000 after acquiring an additional 305,061 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Broadridge Financial Solutions by 82.1% during the second quarter. Acadian Asset Management LLC now owns 571,884 shares of the business services provider’s stock valued at $65,823,000 after acquiring an additional 257,779 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Broadridge Financial Solutions by 171.4% during the second quarter. TD Asset Management Inc. now owns 266,786 shares of the business services provider’s stock valued at $30,707,000 after acquiring an additional 168,501 shares during the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.

In other news, VP James M. Young sold 44,726 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $129.79, for a total value of $5,804,987.54. Following the completion of the transaction, the vice president now owns 64,848 shares of the company’s stock, valued at $8,416,621.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

NYSE BR opened at $134.79 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96. Broadridge Financial Solutions, Inc. has a one year low of $78.44 and a one year high of $138.24. The company has a market capitalization of $16.02 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.96 and a beta of 0.88.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be paid a $0.485 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 34.84%.

A number of equities research analysts have weighed in on BR shares. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Friday, August 10th. SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price target for the company. Wolfe Research started coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, July 17th. They set a “market perform” rating for the company. Sandler O’Neill reiterated a “hold” rating and set a $130.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Finally, ValuEngine cut shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $123.40.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.

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

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