State of Wisconsin Investment Board raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,078 shares of the business services provider’s stock after buying an additional 14,900 shares during the period. State of Wisconsin Investment Board owned about 0.08% of Broadridge Financial Solutions worth $7,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Global X Management Co. LLC raised its stake 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 worth $116,000 after buying an additional 120 shares during the last quarter. Van ECK Associates Corp raised its stake 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 worth $123,000 after buying an additional 135 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock worth $202,000 after buying an additional 174 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock worth $230,000 after buying an additional 478 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Broadridge Financial Solutions during the first quarter worth about $233,000. Institutional investors and hedge funds own 84.27% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) opened at 76.91 on Tuesday. The stock’s 50 day moving average price is $75.62 and its 200-day moving average price is $72.15. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $78.00. The firm has a market capitalization of $8.96 billion, a P/E ratio of 28.49 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted $1.45 EPS. The company’s revenue for the quarter was up 38.1% on a year-over-year basis. Equities analysts forecast 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. Stockholders of record on Friday, September 15th will be given a $0.365 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 48.35%.

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A number of analysts recently issued reports on the company. DA Davidson assumed coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target for the company. BidaskClub lowered Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Barclays PLC boosted their price target on 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $76.00.

In related news, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 20,646 shares in the company, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,347 shares of company stock worth $7,798,503. 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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