BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 8,732 Shares of Broadridge Financial Solutions, Inc. (BR)

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,074 shares of the business services provider’s stock after selling 8,732 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Broadridge Financial Solutions were worth $4,037,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Broadridge Financial Solutions by 2.1% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,561 shares of the business services provider’s stock valued at $2,251,000 after acquiring an additional 405 shares during the last quarter. Advisor Partners LLC boosted its stake in Broadridge Financial Solutions by 10.4% in the second quarter. Advisor Partners LLC now owns 4,616 shares of the business services provider’s stock valued at $531,000 after acquiring an additional 433 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Broadridge Financial Solutions by 4.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,319 shares of the business services provider’s stock valued at $1,242,000 after acquiring an additional 471 shares during the last quarter. Mcrae Capital Management Inc. boosted its stake in Broadridge Financial Solutions by 1.2% in the second quarter. Mcrae Capital Management Inc. now owns 41,605 shares of the business services provider’s stock valued at $4,789,000 after acquiring an additional 490 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in Broadridge Financial Solutions by 11.3% in the second quarter. Oakbrook Investments LLC now owns 4,898 shares of the business services provider’s stock valued at $564,000 after acquiring an additional 498 shares during the last quarter. 85.00% of the stock is owned by institutional investors.

NYSE BR opened at $135.64 on Thursday. Broadridge Financial Solutions, Inc. has a 12-month low of $77.85 and a 12-month high of $137.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $15.72 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 2.90 and a beta of 0.88.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.01). Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. research analysts predict that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be given a $0.485 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.43%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. Broadridge Financial Solutions’s payout ratio is 34.84%.

A number of research analysts have weighed in on BR shares. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday, August 10th. Wolfe Research started coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Sandler O’Neill reiterated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. ValuEngine cut shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Finally, SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $123.40.

In other news, VP James M. Young sold 44,726 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $129.79, for a total value of $5,804,987.54. Following the sale, the vice president now owns 64,848 shares of the company’s stock, valued at $8,416,621.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Broadridge Financial Solutions 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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