Russell Investments Group Ltd. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,302 shares of the business services provider’s stock after purchasing an additional 9,014 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Broadridge Financial Solutions worth $6,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BR. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Broadridge Financial Solutions by 5.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,236 shares of the business services provider’s stock worth $3,009,000 after acquiring an additional 1,889 shares during the period. Comerica Bank raised its holdings in shares of Broadridge Financial Solutions by 15.7% during the third quarter. Comerica Bank now owns 122,336 shares of the business services provider’s stock worth $10,477,000 after acquiring an additional 16,640 shares during the period. Rhumbline Advisers raised its holdings in shares of Broadridge Financial Solutions by 10.5% during the third quarter. Rhumbline Advisers now owns 314,195 shares of the business services provider’s stock worth $25,393,000 after acquiring an additional 29,934 shares during the period. Advisor Group Inc. raised its holdings in shares of Broadridge Financial Solutions by 17.9% during the third quarter. Advisor Group Inc. now owns 27,041 shares of the business services provider’s stock worth $2,185,000 after acquiring an additional 4,103 shares during the period. Finally, Toronto Dominion Bank raised its holdings in shares of Broadridge Financial Solutions by 241.8% during the third quarter. Toronto Dominion Bank now owns 4,966 shares of the business services provider’s stock worth $401,000 after acquiring an additional 3,513 shares during the period. 83.54% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions, Inc. (BR) opened at $89.53 on Friday. The firm has a market cap of $10,434.90, a PE ratio of 26.89, a PEG ratio of 2.41 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $64.57 and a 52 week high of $91.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70.

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

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

A number of equities research analysts recently commented on the stock. Barclays restated a “hold” rating and set a $95.00 price objective on shares of Broadridge Financial Solutions in a report on Friday. BidaskClub lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Raymond James Financial restated a “hold” rating on shares of Broadridge Financial Solutions in a report on Monday, December 4th. ValuEngine lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, DA Davidson reiterated a “hold” rating and issued a $86.00 price target on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $90.50.

In related news, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total transaction of $677,544.05. Following the completion of the sale, the director now owns 44,482 shares of the company’s stock, valued at approximately $3,937,101.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard J. Daly sold 94,039 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

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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.

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

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