Public Employees Retirement Association of Colorado reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,378 shares of the business services provider’s stock after selling 49 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Broadridge Financial Solutions were worth $1,918,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock worth $123,000 after buying an additional 135 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock worth $202,000 after buying an additional 174 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock worth $230,000 after buying an additional 478 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Broadridge Financial Solutions during the first quarter worth $233,000. Finally, Daiwa Securities Group Inc. boosted its position in Broadridge Financial Solutions by 13.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,450 shares of the business services provider’s stock worth $234,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) opened at 72.28 on Friday. The stock has a market capitalization of $8.50 billion, a PE ratio of 28.31 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 1-year low of $59.86 and a 1-year high of $78.00. The stock’s 50 day moving average price is $75.41 and its 200 day moving average price is $71.43.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.01. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The company’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post $3.12 earnings per share for the current year.

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A number of equities analysts have weighed in on the company. DA Davidson started coverage on Broadridge Financial Solutions in a report on Monday. They issued a “neutral” rating and a $74.00 price target for the company. BidaskClub cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $76.67.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 76,666 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 34,385 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $75.17, for a total value of $2,584,720.45. Following the completion of the sale, the insider now directly owns 106,653 shares in the company, valued at approximately $8,017,106.01. The disclosure for this sale can be found here. Insiders sold a total of 323,032 shares of company stock worth $24,016,648 in the last ninety days. Insiders own 3.50% of the company’s stock.

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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