Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Mid Atlantic Financial Management Inc. ADV

Mid Atlantic Financial Management Inc. ADV lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,394 shares of the business services provider’s stock after selling 386 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Broadridge Financial Solutions were worth $306,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BR. Beaumont Financial Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 22.7% during the second quarter. Beaumont Financial Partners LLC now owns 3,009 shares of the business services provider’s stock worth $384,000 after buying an additional 556 shares in the last quarter. Achmea Investment Management B.V. grew its stake in Broadridge Financial Solutions by 19.5% in the second quarter. Achmea Investment Management B.V. now owns 30,076 shares of the business services provider’s stock valued at $3,840,000 after purchasing an additional 4,904 shares during the last quarter. AMI Asset Management Corp grew its stake in Broadridge Financial Solutions by 10.8% in the second quarter. AMI Asset Management Corp now owns 351,145 shares of the business services provider’s stock valued at $44,834,000 after purchasing an additional 34,156 shares during the last quarter. Great Lakes Advisors LLC grew its stake in Broadridge Financial Solutions by 8.7% in the second quarter. Great Lakes Advisors LLC now owns 9,199 shares of the business services provider’s stock valued at $1,175,000 after purchasing an additional 738 shares during the last quarter. Finally, National Asset Management Inc. grew its stake in Broadridge Financial Solutions by 38.8% in the second quarter. National Asset Management Inc. now owns 9,543 shares of the business services provider’s stock valued at $1,220,000 after purchasing an additional 2,669 shares during the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.

BR opened at $127.52 on Wednesday. The business’s 50-day moving average is $129.81 and its two-hundred day moving average is $118.23. Broadridge Financial Solutions, Inc. has a 1 year low of $91.34 and a 1 year high of $138.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $14.57 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.86 earnings per share. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 5.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 41.63%.

BR has been the topic of several analyst reports. DA Davidson lowered Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Raymond James lowered Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Friday, May 10th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, SunTrust Banks lifted their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $129.20.

In other Broadridge Financial Solutions news, VP Adam D. Amsterdam sold 20,880 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $128.92, for a total value of $2,691,849.60. Following the completion of the sale, the vice president now owns 20,365 shares of the company’s stock, valued at $2,625,455.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stuart R. Levine sold 25,260 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $126.27, for a total value of $3,189,580.20. Following the completion of the sale, the director now directly owns 47,886 shares of the company’s stock, valued at approximately $6,046,565.22. The disclosure for this sale can be found here. In the last three months, insiders sold 200,165 shares of company stock valued at $25,558,522. Corporate insiders own 2.30% of the company’s stock.

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.

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

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