Allianz Asset Management GmbH Sells 72,999 Shares of Broadridge Financial Solutions, Inc. (BR)

Allianz Asset Management GmbH reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 651,545 shares of the business services provider’s stock after selling 72,999 shares during the quarter. Allianz Asset Management GmbH owned about 0.56% of Broadridge Financial Solutions worth $52,658,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Broadridge Financial Solutions by 0.7% during the 2nd quarter. BlackRock Inc. now owns 12,134,364 shares of the business services provider’s stock worth $916,871,000 after purchasing an additional 79,827 shares during the period. Janus Henderson Group PLC grew its stake in shares of Broadridge Financial Solutions by 1,647.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock worth $542,669,000 after purchasing an additional 6,770,958 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Broadridge Financial Solutions by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,438,336 shares of the business services provider’s stock worth $184,239,000 after purchasing an additional 10,182 shares during the period. Principal Financial Group Inc. grew its stake in shares of Broadridge Financial Solutions by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,461,535 shares of the business services provider’s stock worth $118,123,000 after purchasing an additional 53,439 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Broadridge Financial Solutions by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,437,887 shares of the business services provider’s stock worth $108,647,000 after purchasing an additional 10,569 shares during the period. 83.54% of the stock is currently owned by institutional investors.

BR has been the topic of a number of recent analyst reports. ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Barclays upped their price target on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Raymond James Financial reaffirmed a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday. DA Davidson reaffirmed a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Finally, BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $85.50.

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at $88.65 on Thursday. The company has a market cap of $10,321.89, a PE ratio of 26.59, a P/E/G ratio of 2.38 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12 month low of $64.17 and a 12 month high of $91.75. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.12. The firm had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be paid a $0.365 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.65%. Broadridge Financial Solutions’s payout ratio is 50.87%.

In related news, insider Richard J. Daly sold 94,039 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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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.

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

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