Wells Fargo & Company MN Boosts Holdings in Broadridge Financial Solutions, Inc. (BR)

Wells Fargo & Company MN raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 32.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,950,097 shares of the business services provider’s stock after acquiring an additional 472,524 shares during the period. Wells Fargo & Company MN’s holdings in Broadridge Financial Solutions were worth $257,315,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BR. Millennium Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $10,094,000. Allianz Asset Management GmbH raised its holdings in Broadridge Financial Solutions by 5.3% in the 1st quarter. Allianz Asset Management GmbH now owns 523,083 shares of the business services provider’s stock worth $57,377,000 after acquiring an additional 26,346 shares during the last quarter. Clinton Group Inc. purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $723,000. IFM Investors Pty Ltd purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $410,000. Finally, State of Alaska Department of Revenue raised its holdings in Broadridge Financial Solutions by 58.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 29,315 shares of the business services provider’s stock worth $3,374,000 after acquiring an additional 10,800 shares during the last quarter. 84.55% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on BR shares. Wolfe Research started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They issued a “market perform” rating for the company. Sandler O’Neill restated a “hold” rating and issued a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. 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 report on Friday, August 10th. Finally, SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $123.40.

Shares of BR opened at $108.68 on Thursday. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 2.25 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.93. Broadridge Financial Solutions, Inc. has a 1-year low of $86.80 and a 1-year high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $973.00 million during the quarter, compared to the consensus estimate of $970.19 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 4.67 earnings per share for the current year.

In other news, CEO Richard J. Daly sold 47,192 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the completion of the sale, the chief executive officer now owns 387,336 shares of the company’s stock, valued at approximately $51,945,630.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James M. Young sold 44,726 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $129.79, for a total transaction of $5,804,987.54. Following the sale, the vice president now directly owns 64,848 shares of the company’s stock, valued at approximately $8,416,621.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,080 shares of company stock valued at $48,514,337. Insiders own 2.30% of the company’s stock.

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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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Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR).

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

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