New York State Teachers Retirement System reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,280 shares of the business services provider’s stock after selling 6,000 shares during the quarter. New York State Teachers Retirement System owned approximately 0.17% of Broadridge Financial Solutions worth $16,187,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Broadridge Financial Solutions during the second quarter valued at $108,000. Toronto Dominion Bank lifted its holdings in shares of Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 149 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 120 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 706 shares during the period. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 600 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions, Inc. (BR) opened at $87.16 on Tuesday. The firm has a market cap of $10,120.66, a PE ratio of 27.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.33 and a quick ratio of 1.33.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share 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 company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company posted $1.45 earnings per share. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.68 EPS for the current fiscal year.

In other news, Director Stuart R. Levine sold 7,868 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the sale, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard J. Daly sold 94,039 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,720 shares of company stock valued at $9,679,916. 2.60% of the stock is currently owned by corporate insiders.

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A number of brokerages have issued reports on BR. BidaskClub cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Barclays PLC lifted their price objective on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, DA Davidson began coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective for the company.

About Broadridge Financial Solutions

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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