Flinton Capital Management LLC Buys 2,884 Shares of Broadridge Financial Solutions, Inc. (BR)

Flinton Capital Management LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 31.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,180 shares of the business services provider’s stock after purchasing an additional 2,884 shares during the period. Flinton Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. OppenheimerFunds Inc. raised its stake in shares of Broadridge Financial Solutions by 20.4% during the 1st quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock worth $839,000 after buying an additional 2,092 shares during the period. Tredje AP fonden raised its stake in shares of Broadridge Financial Solutions by 15.2% during the 2nd quarter. Tredje AP fonden now owns 30,180 shares of the business services provider’s stock worth $2,290,000 after buying an additional 3,990 shares during the period. Swiss National Bank raised its stake in shares of Broadridge Financial Solutions by 1.4% during the 2nd quarter. Swiss National Bank now owns 838,900 shares of the business services provider’s stock worth $63,387,000 after buying an additional 11,200 shares during the period. Morgan Stanley raised its stake in shares of Broadridge Financial Solutions by 47.0% during the 1st quarter. Morgan Stanley now owns 454,416 shares of the business services provider’s stock worth $30,878,000 after buying an additional 145,274 shares during the period. Finally, Confluence Investment Management LLC raised its stake in shares of Broadridge Financial Solutions by 2.6% during the 2nd quarter. Confluence Investment Management LLC now owns 994,106 shares of the business services provider’s stock worth $75,115,000 after buying an additional 25,421 shares during the period. Institutional investors and hedge funds own 83.77% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) opened at 81.68 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $82.10. The stock’s 50 day moving average price is $79.20 and its 200 day moving average price is $74.41. The firm has a market capitalization of $9.51 billion, a P/E ratio of 30.25 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.45 earnings per share. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were paid a $0.365 dividend. The ex-dividend date was Thursday, September 14th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.79%. Broadridge Financial Solutions’s payout ratio is 53.48%.

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Several brokerages have recently weighed in on BR. BidaskClub raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Barclays PLC upped their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Finally, DA Davidson began coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 target price for the company.

In related news, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 sale, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the sale, the insider now owns 20,646 shares in the company, valued at $1,588,916.16. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Broadridge Financial Solutions 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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