Gryphon Financial Partners LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 110.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,761 shares of the business services provider’s stock after acquiring an additional 1,448 shares during the period. Gryphon Financial Partners LLC’s holdings in Broadridge Financial Solutions were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Broadridge Financial Solutions by 2.1% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,561 shares of the business services provider’s stock worth $2,251,000 after purchasing an additional 405 shares during the last quarter. Advisor Partners LLC lifted its holdings in shares of Broadridge Financial Solutions by 10.4% during the 2nd quarter. Advisor Partners LLC now owns 4,616 shares of the business services provider’s stock worth $531,000 after acquiring an additional 433 shares during the period. Mcrae Capital Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 1.2% during the 2nd quarter. Mcrae Capital Management Inc. now owns 41,605 shares of the business services provider’s stock worth $4,789,000 after acquiring an additional 490 shares during the period. Oakbrook Investments LLC lifted its holdings in shares of Broadridge Financial Solutions by 11.3% during the 2nd quarter. Oakbrook Investments LLC now owns 4,898 shares of the business services provider’s stock worth $564,000 after acquiring an additional 498 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of Broadridge Financial Solutions by 4.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 13,066 shares of the business services provider’s stock worth $1,504,000 after acquiring an additional 538 shares during the period. 84.55% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. SunTrust Banks assumed coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective on the stock. Sandler O’Neill reiterated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Finally, Wolfe Research assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $123.40.

In other news, CEO Richard J. Daly sold 67,974 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the sale, the chief executive officer now owns 233,673 shares in the company, valued at $29,585,338.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Daly sold 210,188 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the sale, the chief executive officer now owns 387,336 shares in the company, valued at approximately $51,182,579.04. The disclosure for this sale can be found here. Insiders sold 325,354 shares of company stock worth $42,709,350 in the last 90 days. 2.30% of the stock is currently owned by insiders.

NYSE BR opened at $107.21 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $86.80 and a one year high of $138.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.28 and a current ratio of 1.69. The company has a market capitalization of $12.69 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The firm had revenue of $973.00 million for the quarter, compared to analyst estimates of $970.19 million. During the same quarter last year, the firm posted $0.54 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 4.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be issued a $0.485 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.94 annualized dividend and a yield of 1.81%. Broadridge Financial Solutions’s payout ratio is 46.30%.

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About Broadridge Financial Solutions

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.

Further Reading: Bear Market

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

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