Bowling Portfolio Management LLC Decreases Position in Broadridge Financial Solutions, Inc. (BR)

Bowling Portfolio Management LLC cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,414 shares of the business services provider’s stock after selling 476 shares during the period. Broadridge Financial Solutions comprises approximately 0.9% of Bowling Portfolio Management LLC’s investment portfolio, making the stock its 17th biggest holding. Bowling Portfolio Management LLC’s holdings in Broadridge Financial Solutions were worth $6,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Morgan Stanley raised its position in shares of Broadridge Financial Solutions by 112.5% in the second quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock worth $297,411,000 after acquiring an additional 1,367,735 shares during the period. Northern Trust Corp raised its position in shares of Broadridge Financial Solutions by 11.4% in the second quarter. Northern Trust Corp now owns 1,914,848 shares of the business services provider’s stock worth $220,399,000 after acquiring an additional 195,241 shares during the period. Wells Fargo & Company MN raised its position in shares of Broadridge Financial Solutions by 28.8% in the second quarter. Wells Fargo & Company MN now owns 1,477,573 shares of the business services provider’s stock worth $170,067,000 after acquiring an additional 330,694 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Broadridge Financial Solutions by 11.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,240,020 shares of the business services provider’s stock worth $142,765,000 after acquiring an additional 129,612 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Broadridge Financial Solutions by 16.9% in the second quarter. Voya Investment Management LLC now owns 976,588 shares of the business services provider’s stock worth $112,405,000 after acquiring an additional 141,283 shares during the period. Institutional investors own 84.86% of the company’s stock.

In related news, CEO Richard J. Daly sold 210,188 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the completion of the sale, the chief executive officer now owns 387,336 shares of the company’s stock, valued at approximately $51,182,579.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Daly sold 67,974 shares of the company’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the sale, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at approximately $29,585,338.53. The disclosure for this sale can be found here. Insiders have sold 370,080 shares of company stock valued at $48,514,337 in the last three months. Corporate insiders own 2.30% of the company’s stock.

BR has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, August 10th. Wolfe Research assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, July 17th. They set a “market perform” rating for the company. Sandler O’Neill reissued a “hold” rating and set a $130.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Finally, SunTrust Banks assumed coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 target price for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $123.40.

Shares of BR stock traded down $0.45 on Thursday, reaching $118.81. 2,128 shares of the company were exchanged, compared to its average volume of 922,215. The stock has a market capitalization of $15.37 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.84 and a beta of 0.88. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96. Broadridge Financial Solutions, Inc. has a 1 year low of $83.12 and a 1 year high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.01). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. Broadridge Financial Solutions’s payout ratio is currently 46.30%.

Broadridge Financial Solutions Company 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.

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

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