Mackay Shields LLC acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,086 shares of the business services provider’s stock, valued at approximately $2,196,000.

Other hedge funds have also recently bought and sold shares of the company. Signition LP bought a new position in shares of Broadridge Financial Solutions in the second quarter worth about $308,000. Nomura Asset Management Co. Ltd. lifted its stake in Broadridge Financial Solutions by 5.7% in the second quarter. Nomura Asset Management Co. Ltd. now owns 22,409 shares of the business services provider’s stock worth $2,579,000 after acquiring an additional 1,199 shares during the period. Boston Partners purchased a new stake in Broadridge Financial Solutions in the second quarter worth about $3,211,000. Robeco Institutional Asset Management B.V. lifted its stake in Broadridge Financial Solutions by 11.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,240,020 shares of the business services provider’s stock worth $142,765,000 after acquiring an additional 129,612 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Broadridge Financial Solutions in the second quarter worth about $1,421,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

A number of analysts recently weighed in on the stock. ValuEngine raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Wolfe Research assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating for the company. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $130.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $116.75.

BR stock opened at $134.33 on Friday. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.86 and a beta of 0.79. Broadridge Financial Solutions, Inc. has a one year low of $76.29 and a one year high of $134.68. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). The firm had revenue of $1.32 billion for 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 predict that Broadridge Financial Solutions, Inc. will post 4.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 1.44%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, September 17th. Broadridge Financial Solutions’s dividend payout ratio is presently 34.84%.

In other Broadridge Financial Solutions news, Director Richard J. Haviland sold 15,430 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $116.51, for a total transaction of $1,797,749.30. Following the completion of the sale, the director now directly owns 52,032 shares of the company’s stock, valued at $6,062,248.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert Schifellite sold 43,686 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $118.70, for a total transaction of $5,185,528.20. Following the sale, the senior vice president now directly owns 125,533 shares of the company’s stock, valued at $14,900,767.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,208 shares of company stock valued at $14,839,805. Insiders own 2.60% of the company’s stock.

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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