Utah Retirement Systems Continues to Hold Position in Broadridge Financial Solutions, Inc. (BR)

Utah Retirement Systems continued to hold its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,514 shares of the business services provider’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Broadridge Financial Solutions were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BR. Legal & General Group Plc raised its stake in shares of Broadridge Financial Solutions by 7.7% in the first quarter. Legal & General Group Plc now owns 654,773 shares of the business services provider’s stock valued at $44,487,000 after buying an additional 46,802 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Broadridge Financial Solutions by 0.9% in the first quarter. PNC Financial Services Group Inc. now owns 77,901 shares of the business services provider’s stock valued at $5,294,000 after buying an additional 669 shares during the period. Sentry Investments Corp. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter valued at about $245,000. Global Financial Private Capital LLC acquired a new stake in shares of Broadridge Financial Solutions during the first quarter valued at about $1,751,000. Finally, Boston Financial Mangement LLC raised its stake in shares of Broadridge Financial Solutions by 4.1% in the first quarter. Boston Financial Mangement LLC now owns 137,643 shares of the business services provider’s stock valued at $9,353,000 after buying an additional 5,475 shares during the period. Institutional investors own 84.89% of the company’s stock.

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

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) traded down 0.45% during mid-day trading on Friday, reaching $75.36. 1,444,621 shares of the company traded hands. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 29.52 and a beta of 1.00. The firm has a 50-day moving average price of $73.25 and a 200 day moving average price of $68.82. Broadridge Financial Solutions, Inc. has a 52 week low of $59.86 and a 52 week high of $78.00.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Broadridge Financial Solutions had a net margin of 8.21% and a return on equity of 34.74%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.65 million. During the same period last year, the firm posted $0.58 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 46.4% compared to the same quarter last year. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 51.56%.

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Separately, Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Monday, April 10th.

In other news, insider Robert Schifellite sold 76,666 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the completion of the transaction, the insider now directly owns 105,042 shares of the company’s stock, valued at approximately $7,981,091.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 34,385 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $75.17, for a total transaction of $2,584,720.45. Following the transaction, the insider now directly owns 106,653 shares of the company’s stock, valued at $8,017,106.01. The disclosure for this sale can be found here. Insiders have sold a total of 323,032 shares of company stock valued at $24,016,648 over the last three months. 3.50% of the stock is currently owned by insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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).

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