Forward Management LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,495 shares of the business services provider’s stock after buying an additional 373 shares during the period. Forward Management LLC’s holdings in Broadridge Financial Solutions were worth $491,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BR. Nippon Life Insurance Co. purchased a new position in Broadridge Financial Solutions during the first quarter worth approximately $788,000. Hermes Investment Management Ltd. increased its position in Broadridge Financial Solutions by 8.6% in the first quarter. Hermes Investment Management Ltd. now owns 411,740 shares of the business services provider’s stock worth $27,978,000 after buying an additional 32,581 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Broadridge Financial Solutions during the first quarter worth approximately $233,000. Wendell David Associates Inc. increased its position in Broadridge Financial Solutions by 0.6% in the first quarter. Wendell David Associates Inc. now owns 65,533 shares of the business services provider’s stock worth $4,453,000 after buying an additional 360 shares in the last quarter. Finally, DnB Asset Management AS purchased a new position in Broadridge Financial Solutions during the first quarter worth approximately $715,000. Institutional investors own 85.19% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 74.27 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $59.86 and a 12-month high of $78.00. The firm has a market cap of $8.73 billion, a P/E ratio of 29.09 and a beta of 0.99. The company has a 50-day moving average price of $75.36 and a 200-day moving average price of $71.49.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.71. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $1.45 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions, Inc. will post $3.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 48.35%.

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A number of research firms recently commented on BR. Barclays PLC increased their price objective on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday. BidaskClub upgraded Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Finally, DA Davidson began coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $76.00.

In related news, insider Robert Schifellite sold 76,666 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total value of $5,825,082.68. Following the sale, the insider now owns 105,042 shares of the company’s stock, valued at approximately $7,981,091.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laura Matlin sold 630 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the sale, the vice president now directly owns 5,271 shares in the company, valued at approximately $378,932.19. The disclosure for this sale can be found here. In the last three months, insiders sold 323,032 shares of company stock worth $24,016,648. 3.50% of the stock is owned by insiders.

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.

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

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