Griffin Asset Management Inc. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,490 shares of the business services provider’s stock, valued at approximately $1,171,000.

A number of other institutional investors have also added to or reduced their stakes in BR. ETF Managers Group LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $144,000. Acrospire Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter worth about $108,000. Toronto Dominion Bank raised its stake in shares of Broadridge Financial Solutions by 11.4% in the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after purchasing an additional 149 shares during the last quarter. 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 purchasing an additional 120 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after purchasing an additional 706 shares during the last quarter. Institutional investors own 83.55% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $89.80 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $10,434.95, a P/E ratio of 26.89, a P/E/G ratio of 2.41 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12-month low of $64.57 and a 12-month high of $91.75.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. Broadridge Financial Solutions’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. equities analysts predict that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 50.87%.

In other Broadridge Financial Solutions news, Director Richard J. Haviland sold 7,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total value of $677,544.05. Following the sale, the director now directly owns 44,482 shares of the company’s stock, valued at $3,937,101.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard J. Daly sold 94,039 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,875 shares of company stock valued at $12,784,264. 2.60% of the stock is owned by company insiders.

Several research analysts have recently issued reports on BR shares. Barclays raised their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. BidaskClub upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. DA Davidson restated a “hold” rating and issued a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Five investment analysts have rated the stock with a hold rating, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $90.50.

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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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