California Public Employees Retirement System lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 31.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 351,927 shares of the business services provider’s stock after purchasing an additional 83,275 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Broadridge Financial Solutions worth $40,507,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of Broadridge Financial Solutions by 144.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 85,311 shares of the business services provider’s stock worth $9,819,000 after buying an additional 50,462 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Broadridge Financial Solutions by 171.4% in the 2nd quarter. TD Asset Management Inc. now owns 266,786 shares of the business services provider’s stock worth $30,707,000 after buying an additional 168,501 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Broadridge Financial Solutions by 51.4% in the 2nd quarter. CIBC Asset Management Inc now owns 18,360 shares of the business services provider’s stock worth $2,113,000 after buying an additional 6,231 shares in the last quarter. Koch Industries Inc. boosted its position in shares of Broadridge Financial Solutions by 127.1% in the 1st quarter. Koch Industries Inc. now owns 6,796 shares of the business services provider’s stock worth $745,000 after buying an additional 3,803 shares in the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 7.2% in the 2nd quarter. BlueMountain Capital Management LLC now owns 100,154 shares of the business services provider’s stock worth $11,528,000 after buying an additional 6,743 shares in the last quarter. 84.96% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on BR. SunTrust Banks initiated coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price objective on the stock. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Sandler O’Neill restated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Wolfe Research initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Finally, ValuEngine lowered shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $123.40.

In other Broadridge Financial Solutions news, VP James M. Young sold 44,726 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $129.79, for a total value of $5,804,987.54. Following the transaction, the vice president now directly owns 64,848 shares in the company, valued at approximately $8,416,621.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

NYSE:BR opened at $132.65 on Monday. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.28 and a current ratio of 1.28. Broadridge Financial Solutions, Inc. has a 12-month low of $79.67 and a 12-month high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 7th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.01). The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%. analysts forecast that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, September 17th. Broadridge Financial Solutions’s dividend payout ratio is 46.30%.

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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