ETRADE Capital Management LLC Lowers Holdings in Broadridge Financial Solutions (BR)

ETRADE Capital Management LLC decreased its holdings in shares of Broadridge Financial Solutions (NYSE:BR) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,800 shares of the business services provider’s stock after selling 965 shares during the period. ETRADE Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Broadridge Financial Solutions by 6.3% during the fourth quarter. BlackRock Inc. now owns 13,884,096 shares of the business services provider’s stock worth $1,257,619,000 after buying an additional 818,115 shares during the last quarter. Atlanta Capital Management Co. L L C grew its stake in shares of Broadridge Financial Solutions by 2.4% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,594,845 shares of the business services provider’s stock worth $235,041,000 after acquiring an additional 61,117 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Broadridge Financial Solutions by 38.1% in the 4th quarter. Deutsche Bank AG now owns 1,379,752 shares of the business services provider’s stock worth $124,975,000 after acquiring an additional 380,595 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 1,181,398 shares of the business services provider’s stock worth $106,961,000 after acquiring an additional 49,353 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Broadridge Financial Solutions by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,180,392 shares of the business services provider’s stock worth $106,919,000 after acquiring an additional 18,901 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Several research firms have recently issued reports on BR. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Sandler O’Neill reiterated a “hold” rating and issued a $101.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, February 15th. Barclays upped their target price on shares of Broadridge Financial Solutions from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, DA Davidson upped their target price on shares of Broadridge Financial Solutions from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 28th. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $100.25.

Broadridge Financial Solutions opened at $114.76 on Friday, according to Marketbeat Ratings. Broadridge Financial Solutions has a 1 year low of $71.58 and a 1 year high of $118.36. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $13.53 billion, a PE ratio of 28.41, a PEG ratio of 2.73 and a beta of 0.86.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.21. Broadridge Financial Solutions had a net margin of 9.37% and a return on equity of 45.33%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. analysts forecast that Broadridge Financial Solutions will post 4.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 15th will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.46 annualized dividend and a yield of 1.27%. Broadridge Financial Solutions’s payout ratio is currently 46.65%.

In related news, CEO Richard J. Daly sold 26,000 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $107.44, for a total transaction of $2,793,440.00. Following the completion of the transaction, the chief executive officer now owns 337,845 shares in the company, valued at $36,298,066.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert F. Kalenka sold 13,457 shares of the stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $117.45, for a total transaction of $1,580,524.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,447 shares of company stock valued at $9,072,173. 2.60% of the stock is owned by company insiders.

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.

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

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