Dana Investment Advisors Inc. Trims Holdings in Broadridge Financial Solutions, Inc. (BR)

Dana Investment Advisors Inc. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 291,624 shares of the business services provider’s stock after selling 16,907 shares during the quarter. Broadridge Financial Solutions comprises approximately 1.5% of Dana Investment Advisors Inc.’s holdings, making the stock its 19th biggest position. Dana Investment Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $33,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Broadridge Financial Solutions by 11.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 448,960 shares of the business services provider’s stock worth $51,675,000 after buying an additional 45,561 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Broadridge Financial Solutions by 21.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 18,868 shares of the business services provider’s stock worth $2,172,000 after buying an additional 3,393 shares in the last quarter. Bartlett & Co. LLC grew its stake in shares of Broadridge Financial Solutions by 375.0% in the 2nd quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock worth $109,000 after buying an additional 750 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Broadridge Financial Solutions by 343.2% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,435 shares of the business services provider’s stock worth $5,920,000 after buying an additional 39,830 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $1,030,000. Institutional investors own 84.37% of the company’s stock.

A number of equities analysts have commented on BR shares. ValuEngine cut shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research cut shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, Wolfe Research started coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating for the company. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $100.25.

Shares of Broadridge Financial Solutions opened at $112.56 on Thursday, MarketBeat Ratings reports. Broadridge Financial Solutions, Inc. has a 52 week low of $71.58 and a 52 week high of $120.65. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 35.96, a price-to-earnings-growth ratio of 2.51 and a beta of 0.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, May 8th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. research analysts expect that Broadridge Financial Solutions, Inc. will post 4.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 3rd. Investors of record on Friday, June 15th were paid a dividend of $0.365 per share. The ex-dividend date was Thursday, June 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.30%. Broadridge Financial Solutions’s dividend payout ratio is presently 46.65%.

In related news, SVP Robert Schifellite sold 43,686 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $118.70, for a total transaction of $5,185,528.20. Following the completion of the transaction, the senior vice president now directly owns 125,533 shares of the company’s stock, valued at approximately $14,900,767.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Julie R. Taylor sold 7,366 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $118.36, for a total transaction of $871,839.76. Following the transaction, the vice president now directly owns 11,262 shares of the company’s stock, valued at $1,332,970.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,270 shares of company stock valued at $20,727,017. 2.60% of the stock is owned by corporate insiders.

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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