Broadridge Financial Solutions, Inc. (BR) Holdings Trimmed by Nationwide Fund Advisors

Nationwide Fund Advisors trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 497,916 shares of the business services provider’s stock after selling 15,955 shares during the period. Nationwide Fund Advisors owned approximately 0.42% of Broadridge Financial Solutions worth $37,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its stake in Broadridge Financial Solutions by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock valued at $839,000 after acquiring an additional 2,092 shares in the last quarter. Morgan Stanley raised its holdings in shares of Broadridge Financial Solutions by 47.0% in the first quarter. Morgan Stanley now owns 454,416 shares of the business services provider’s stock worth $30,878,000 after buying an additional 145,274 shares during the last quarter. Confluence Investment Management LLC raised its holdings in shares of Broadridge Financial Solutions by 2.6% in the second quarter. Confluence Investment Management LLC now owns 994,106 shares of the business services provider’s stock worth $75,115,000 after buying an additional 25,421 shares during the last quarter. Alta Capital Management LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth $14,740,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Broadridge Financial Solutions by 8.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 358,543 shares of the business services provider’s stock worth $24,363,000 after buying an additional 28,636 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) traded down 0.33% on Friday, hitting $79.04. 112,058 shares of the company’s stock were exchanged. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $80.48. The company’s 50-day moving average price is $76.84 and its 200-day moving average price is $73.09. The company has a market cap of $9.21 billion, a PE ratio of 29.27 and a beta of 0.97.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The company’s revenue for the quarter was up 38.1% on a year-over-year basis. 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. Investors of record on Friday, September 15th will be paid a dividend of $0.365 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.84%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is currently 48.35%.

In related news, insider Adam D. Amsterdam sold 17,813 shares of the stock in a transaction on Wednesday, August 23rd. The shares were 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 owns 20,646 shares in the company, valued at approximately $1,588,916.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction 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 disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

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A number of research analysts have issued reports on the stock. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target for the company. Finally, Barclays PLC raised their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $74.00.

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.

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

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