Broadridge Financial Solutions, Inc. (BR) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,278 shares of the business services provider’s stock after selling 5,738 shares during the period. Westpac Banking Corp owned about 0.07% of Broadridge Financial Solutions worth $6,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC lifted its stake in shares of Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Wendell David Associates Inc. lifted its stake in shares of Broadridge Financial Solutions by 9.3% in the third quarter. Wendell David Associates Inc. now owns 71,316 shares of the business services provider’s stock valued at $5,764,000 after buying an additional 6,043 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Broadridge Financial Solutions by 1,647.4% in the second quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock valued at $542,669,000 after buying an additional 6,770,958 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Broadridge Financial Solutions by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock valued at $839,000 after buying an additional 2,092 shares in the last quarter. Finally, Tredje AP fonden lifted its position in shares of Broadridge Financial Solutions by 15.2% during the second quarter. Tredje AP fonden now owns 30,180 shares of the business services provider’s stock valued at $2,290,000 after purchasing an additional 3,990 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the transaction, the director now directly owns 39,747 shares in the company, valued at approximately $3,043,825.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the transaction, the insider now owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The disclosure for this sale can be found here. In the last three months, insiders sold 119,720 shares of company stock valued at $9,679,916. 2.60% of the stock is owned by insiders.

BR has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. DA Davidson initiated coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective for the company. Finally, Barclays PLC lifted 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, August 11th.

Broadridge Financial Solutions, Inc. (NYSE BR) opened at $86.84 on Friday. The company has a market cap of $10.05 billion, a P/E ratio of 27.38, a P/E/G ratio of 2.34 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.10.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.71. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate 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 revenue was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS. analysts predict that Broadridge Financial Solutions, Inc. will post 3.68 earnings per share for the current fiscal year.

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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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