Hartline Investment Corp Cuts Stake in Broadridge Financial Solutions, Inc. (BR)

Hartline Investment Corp decreased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,191 shares of the business services provider’s stock after selling 2,743 shares during the period. Hartline Investment Corp’s holdings in Broadridge Financial Solutions were worth $2,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ETF Managers Group LLC bought a new stake in Broadridge Financial Solutions during the second quarter worth about $144,000. Acrospire Investment Management LLC bought a new stake in Broadridge Financial Solutions during the second quarter worth about $108,000. Toronto Dominion Bank boosted its stake in Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after acquiring an additional 149 shares in the last quarter. Global X Management Co. LLC boosted its stake in Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after acquiring an additional 120 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after acquiring an additional 706 shares in the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.

BR has been the subject of several recent analyst reports. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. DA Davidson reaffirmed a “hold” rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a report on Thursday, November 9th. Barclays lifted their target price on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Raymond James Financial reissued a “hold” rating on shares of Broadridge Financial Solutions in a report on Monday, December 4th. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $90.50.

In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schifellite sold 49,181 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the completion of the transaction, the insider now owns 149,181 shares of the company’s stock, valued at $13,347,224.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,875 shares of company stock valued at $12,784,264. 2.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions, Inc. (NYSE:BR) traded down $0.27 on Friday, hitting $88.84. 415,100 shares of the stock traded hands, compared to its average volume of 465,756. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70. Broadridge Financial Solutions, Inc. has a 1 year low of $64.94 and a 1 year high of $91.75. The stock has a market capitalization of $10,429.12, a PE ratio of 26.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.365 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio is currently 50.87%.

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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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