Cramer Rosenthal Mcglynn LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,437 shares of the business services provider’s stock after selling 33,281 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.33% of Broadridge Financial Solutions worth $29,124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Broadridge Financial Solutions by 0.7% in the 2nd quarter. BlackRock Inc. now owns 12,134,364 shares of the business services provider’s stock valued at $916,871,000 after buying an additional 79,827 shares in the last quarter. Vanguard Group Inc. increased its stake in Broadridge Financial Solutions by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock valued at $686,373,000 after buying an additional 369,176 shares during the period. Janus Capital Management LLC increased its stake in Broadridge Financial Solutions by 2.4% during the 1st quarter. Janus Capital Management LLC now owns 7,882,947 shares of the business services provider’s stock valued at $535,646,000 after buying an additional 187,411 shares during the period. State Street Corp increased its stake in Broadridge Financial Solutions by 0.8% during the 1st quarter. State Street Corp now owns 4,345,508 shares of the business services provider’s stock valued at $295,283,000 after buying an additional 33,020 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Broadridge Financial Solutions by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,438,336 shares of the business services provider’s stock valued at $184,239,000 after buying an additional 10,182 shares during the period. 83.77% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target for the company. Finally, Barclays PLC increased their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, August 11th.

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded down 0.31% during trading on Wednesday, reaching $81.46. The company’s stock had a trading volume of 64,314 shares. The company’s 50-day moving average is $78.76 and its 200-day moving average is $74.21. The company has a market capitalization of $9.49 billion, a P/E ratio of 30.17 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12 month low of $59.86 and a 12 month high of $82.10.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $1.31 billion. During the same quarter last year, the business posted $1.45 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were issued a dividend of $0.365 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 annualized dividend and a yield of 1.79%. Broadridge Financial Solutions’s dividend payout ratio is currently 53.48%.

In other Broadridge Financial Solutions news, insider Adam D. Amsterdam sold 17,813 shares of the business’s 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 of the company’s stock, valued at approximately $1,588,916.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the sale, the director now directly owns 39,747 shares of the company’s stock, valued at $3,043,825.26. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

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Broadridge Financial Solutions 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.

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

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