East Coast Asset Management LLC. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,143 shares of the business services provider’s stock after selling 1,850 shares during the quarter. East Coast Asset Management LLC.’s holdings in Broadridge Financial Solutions were worth $820,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in Broadridge Financial Solutions in the second quarter worth about $108,000. Toronto Dominion Bank grew its position in 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 acquiring an additional 149 shares in the last quarter. Global X Management Co. LLC grew its position in 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 acquiring an additional 120 shares in the last quarter. Advisory Services Network LLC grew its position in 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 acquiring an additional 706 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after purchasing an additional 600 shares during the last quarter. 83.52% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions, Inc. (NYSE:BR) traded up $1.14 during trading on Friday, hitting $90.26. 1,555,600 shares of the stock traded hands, compared to its average volume of 465,021. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25. Broadridge Financial Solutions, Inc. has a 1 year low of $63.28 and a 1 year high of $91.75. The company has a market capitalization of $10,490.00, a P/E ratio of 27.09, a PEG ratio of 2.43 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. research analysts expect that Broadridge Financial Solutions, Inc. will post 3.72 earnings per share for the current year.

The firm also recently disclosed 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 yield of 1.62%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s payout ratio is 51.05%.

In related news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Several analysts have issued reports on BR shares. DA Davidson started 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 objective for the company. Barclays raised their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th.

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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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