Greenleaf Trust Decreases Position in Broadridge Financial Solutions, Inc. (BR)

Greenleaf Trust lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,776 shares of the business services provider’s stock after selling 813 shares during the period. Greenleaf Trust’s holdings in Broadridge Financial Solutions were worth $2,552,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Bank & Trust increased its position in shares of Broadridge Financial Solutions by 0.4% in the first quarter. First Bank & Trust now owns 10,476 shares of the business services provider’s stock valued at $712,000 after buying an additional 40 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Broadridge Financial Solutions by 0.5% in the first quarter. Xact Kapitalforvaltning AB now owns 9,785 shares of the business services provider’s stock valued at $665,000 after buying an additional 47 shares in the last quarter. McQueen Ball & Associates Inc. increased its position in shares of Broadridge Financial Solutions by 0.7% in the first quarter. McQueen Ball & Associates Inc. now owns 10,910 shares of the business services provider’s stock valued at $741,000 after buying an additional 75 shares in the last quarter. Wade G W & Inc. increased its position in shares of Broadridge Financial Solutions by 1.2% in the first quarter. Wade G W & Inc. now owns 10,295 shares of the business services provider’s stock valued at $700,000 after buying an additional 125 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of 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 valued at $123,000 after buying an additional 135 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Broadridge Financial Solutions, Inc. (BR) opened at 74.27 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00. The company has a market capitalization of $8.65 billion, a P/E ratio of 27.51 and a beta of 0.99. The firm has a 50 day moving average of $75.36 and a 200-day moving average of $71.49.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the business earned $1.45 EPS. On average, analysts forecast 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. Shareholders of record on Friday, September 15th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, September 14th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s dividend payout ratio is currently 48.35%.

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A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Barclays PLC boosted their target price 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. Finally, DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $76.00.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 76,666 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the completion of 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 the SEC website. Also, VP Laura Matlin sold 630 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $71.89, for a total transaction of $45,290.70. Following the sale, the vice president now directly owns 5,271 shares of the company’s stock, valued at approximately $378,932.19. The disclosure for this sale can be found here. Insiders have sold a total of 323,032 shares of company stock valued at $24,016,648 in the last three months. 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.

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

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