Tower Research Capital LLC TRC Increases Stake in Broadridge Financial Solutions, Inc. (BR)

Tower Research Capital LLC TRC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,834 shares of the business services provider’s stock after buying an additional 2,003 shares during the period. Tower Research Capital LLC TRC’s holdings in Broadridge Financial Solutions were worth $1,362,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BR. Morgan Stanley increased its stake in shares of Broadridge Financial Solutions by 112.5% during the second quarter. Morgan Stanley now owns 2,583,950 shares of the business services provider’s stock valued at $297,411,000 after buying an additional 1,367,735 shares during the period. Wells Fargo & Company MN grew its stake in 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 valued at $170,067,000 after purchasing an additional 330,694 shares during the last quarter. Boston Advisors LLC grew its stake in Broadridge Financial Solutions by 387.4% in the second quarter. Boston Advisors LLC now owns 383,801 shares of the business services provider’s stock valued at $44,175,000 after purchasing an additional 305,061 shares during the last quarter. Acadian Asset Management LLC grew its stake in Broadridge Financial Solutions by 82.1% in the second 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 during the last quarter. Finally, TD Asset Management Inc. grew its stake in Broadridge Financial Solutions by 171.4% in the second quarter. TD Asset Management Inc. now owns 266,786 shares of the business services provider’s stock valued at $30,707,000 after purchasing an additional 168,501 shares during the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

In other news, VP James M. Young sold 44,726 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $129.79, for a total transaction of $5,804,987.54. Following the sale, the vice president now owns 64,848 shares in the company, valued at $8,416,621.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Several equities analysts have issued reports on the company. SunTrust Banks assumed coverage on Broadridge Financial Solutions in a research note on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price on the stock. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday, August 10th. Sandler O’Neill reiterated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Wolfe Research assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Finally, ValuEngine lowered Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $123.40.

BR opened at $137.72 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $78.44 and a 1 year high of $138.24. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 2.94 and a beta of 0.89.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be paid a dividend of $0.485 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.41%. Broadridge Financial Solutions’s payout ratio is presently 34.84%.

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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