First Republic Investment Management Inc. Buys Shares of 2,699 Broadridge Financial Solutions, Inc. (BR)

First Republic Investment Management Inc. bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,699 shares of the business services provider’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also made changes to their positions in BR. Global X Management Co. LLC lifted its holdings in Broadridge Financial Solutions by 8.5% during the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after buying an additional 120 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Broadridge Financial Solutions by 6.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the business services provider’s stock valued at $1,866,000 after acquiring an additional 1,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Broadridge Financial Solutions by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 372,959 shares of the business services provider’s stock valued at $28,181,000 after acquiring an additional 14,416 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Broadridge Financial Solutions by 127.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 36,255 shares of the business services provider’s stock valued at $2,739,000 after acquiring an additional 20,349 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its position in shares of Broadridge Financial Solutions by 19.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 93,078 shares of the business services provider’s stock valued at $7,033,000 after acquiring an additional 14,900 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have commented on the stock. DA Davidson reiterated a “hold” rating and set a $86.00 target price on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. ValuEngine cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Barclays restated a “hold” rating and issued a $95.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, December 8th. Finally, BidaskClub upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $90.50.

Shares of Broadridge Financial Solutions, Inc. (BR) opened at $91.16 on Wednesday. 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 $65.07 and a 1 year high of $91.75. The company has a market cap of $10,596.95, a price-to-earnings ratio of 27.30, a P/E/G ratio of 2.45 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.12. The business had revenue of $925.00 million during 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. research analysts expect that Broadridge Financial Solutions, Inc. will post 3.72 earnings per share for the current year.

The company 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. This represents a $1.46 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 50.87%.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 49,181 shares of the stock in a transaction dated 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 in the company, valued at approximately $13,347,224.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard J. Haviland sold 7,655 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total value of $677,544.05. Following the transaction, the director now owns 44,482 shares of the company’s stock, valued at approximately $3,937,101.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,875 shares of company stock valued at $12,784,264. Corporate insiders own 2.60% of the company’s stock.

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Broadridge Financial Solutions Company 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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