Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 58.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,822 shares of the business services provider’s stock after selling 34,451 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Broadridge Financial Solutions were worth $2,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Confluence Investment Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 1.1% during the first quarter. Confluence Investment Management LLC now owns 928,824 shares of the business services provider’s stock worth $88,080,000 after buying an additional 10,196 shares during the last quarter. Waterloo Capital L.P. acquired a new position in Broadridge Financial Solutions in the 1st quarter valued at approximately $661,000. Running Oak Capital LLC lifted its position in shares of Broadridge Financial Solutions by 75.9% in the 1st quarter. Running Oak Capital LLC now owns 43,093 shares of the business services provider’s stock worth $4,086,000 after acquiring an additional 18,600 shares during the period. Optimal Asset Management Inc. lifted its position in shares of Broadridge Financial Solutions by 95.3% in the 1st quarter. Optimal Asset Management Inc. now owns 99,025 shares of the business services provider’s stock worth $9,391,000 after acquiring an additional 48,321 shares during the period. Finally, State of Tennessee Treasury Department grew its holdings in shares of Broadridge Financial Solutions by 43.0% during the 1st quarter. State of Tennessee Treasury Department now owns 76,955 shares of the business services provider’s stock worth $7,298,000 after purchasing an additional 23,143 shares in the last quarter. Hedge funds and other institutional investors own 85.17% of the company’s stock.

In other news, VP Thomas P. Carey sold 1,089 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $97.11, for a total value of $105,752.79. Following the transaction, the vice president now owns 3,041 shares of the company’s stock, valued at $295,311.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James M. Young sold 98,336 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $119.46, for a total value of $11,747,218.56. Following the sale, the chief financial officer now directly owns 68,629 shares of the company’s stock, valued at $8,198,420.34. The disclosure for this sale can be found here. Insiders have sold a total of 155,940 shares of company stock valued at $18,898,829 in the last ninety days. Insiders own 2.20% of the company’s stock.

Shares of Broadridge Financial Solutions stock opened at $125.77 on Tuesday. The stock has a market cap of $14.31 billion, a P/E ratio of 35.43 and a beta of 0.90. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Broadridge Financial Solutions, Inc. has a 12-month low of $81.90 and a 12-month high of $136.99. The business’s 50 day moving average is $121.10 and its 200-day moving average is $115.79.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, May 8th. The business services provider reported $1.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.03). The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Broadridge Financial Solutions had a return on equity of 46.99% and a net margin of 9.50%. Broadridge Financial Solutions’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.16 annualized dividend and a dividend yield of 1.72%. Broadridge Financial Solutions’s dividend payout ratio is currently 46.35%.

A number of research firms have recently commented on BR. Rosenblatt Securities raised their price objective on shares of Broadridge Financial Solutions from $101.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. BTIG Research reissued a “buy” rating and set a $135.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Broadridge Financial Solutions currently has a consensus rating of “Buy” and an average price target of $132.67.

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.

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

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