Broadridge Financial Solutions, Inc. (BR) Holdings Reduced by Twin Tree Management LP

Twin Tree Management LP reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 70.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,304 shares of the business services provider’s stock after selling 33,858 shares during the quarter. Twin Tree Management LP’s holdings in Broadridge Financial Solutions were worth $1,887,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Broadridge Financial Solutions by 112.5% in the 2nd quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock valued at $297,411,000 after purchasing an additional 1,367,735 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Broadridge Financial Solutions by 553.2% in the 2nd quarter. Millennium Management LLC now owns 601,086 shares of the business services provider’s stock valued at $69,185,000 after purchasing an additional 509,066 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Broadridge Financial Solutions by 32.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,950,097 shares of the business services provider’s stock valued at $257,315,000 after purchasing an additional 472,524 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Broadridge Financial Solutions by 82.1% in the 2nd quarter. Acadian Asset Management LLC now owns 571,884 shares of the business services provider’s stock valued at $65,823,000 after purchasing an additional 257,779 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Broadridge Financial Solutions by 76.0% in the 3rd quarter. TD Asset Management Inc. now owns 469,669 shares of the business services provider’s stock valued at $61,973,000 after purchasing an additional 202,883 shares in the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on BR shares. SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price target on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, August 10th. Finally, Sandler O’Neill restated a “hold” rating and issued a $130.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $120.00.

NYSE:BR opened at $98.41 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.69 and a current ratio of 1.69. Broadridge Financial Solutions, Inc. has a one year low of $87.51 and a one year high of $138.24. The company has a market cap of $11.81 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The business had revenue of $973.00 million for the quarter, compared to the consensus estimate of $970.19 million. During the same period last year, the company earned $0.54 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 4.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 14th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.97%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.

In other news, Director Stuart R. Levine sold 8,902 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total value of $879,072.50. Following the transaction, the director now owns 36,530 shares in the company, valued at approximately $3,607,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Daly sold 47,192 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the completion of the transaction, the chief executive officer now owns 387,336 shares in the company, valued at approximately $51,945,630.96. The disclosure for this sale can be found here. Insiders sold a total of 334,256 shares of company stock worth $43,588,422 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

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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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