Parsons Capital Management Inc. RI Reduces Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Parsons Capital Management Inc. RI trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,575 shares of the business services provider’s stock after selling 1,232 shares during the period. Parsons Capital Management Inc. RI’s holdings in Broadridge Financial Solutions were worth $3,521,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of Broadridge Financial Solutions by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 7,824,319 shares of the business services provider’s stock worth $811,304,000 after purchasing an additional 1,177,867 shares during the period. Artisan Partners Limited Partnership lifted its position in Broadridge Financial Solutions by 30.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,077,671 shares of the business services provider’s stock valued at $111,744,000 after acquiring an additional 252,234 shares during the period. Swiss National Bank lifted its position in Broadridge Financial Solutions by 2.9% during the 1st quarter. Swiss National Bank now owns 866,600 shares of the business services provider’s stock valued at $89,858,000 after acquiring an additional 24,300 shares during the period. Jensen Investment Management Inc. lifted its position in Broadridge Financial Solutions by 8,174.4% during the 1st quarter. Jensen Investment Management Inc. now owns 843,157 shares of the business services provider’s stock valued at $87,427,000 after acquiring an additional 832,967 shares during the period. Finally, FMR LLC lifted its position in Broadridge Financial Solutions by 296.2% during the 1st quarter. FMR LLC now owns 750,883 shares of the business services provider’s stock valued at $77,860,000 after acquiring an additional 561,363 shares during the period. 84.28% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on BR shares. DA Davidson cut shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price target for the company. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Friday, May 10th. SunTrust Banks lifted their price target on shares of Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. ValuEngine cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Raymond James cut shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $129.20.

NYSE BR traded up $0.71 during trading hours on Thursday, reaching $126.29. 28,379 shares of the company’s stock traded hands, compared to its average volume of 622,262. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.43 and a beta of 0.72. The business’s 50-day simple moving average is $130.25. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.30.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. Broadridge Financial Solutions had a net margin of 11.05% and a return on equity of 46.61%. Broadridge Financial Solutions’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 5.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.54 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 41.63%.

In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 35,810 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $123.51, for a total transaction of $4,422,893.10. Following the completion of the sale, the director now directly owns 42,874 shares in the company, valued at approximately $5,295,367.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Adam D. Amsterdam sold 20,880 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $128.92, for a total transaction of $2,691,849.60. Following the sale, the vice president now owns 20,365 shares of the company’s stock, valued at $2,625,455.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,289 shares of company stock valued at $16,942,752. 2.30% of the stock is owned by company insiders.

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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