Broadridge Financial Solutions, Inc. (BR) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,219,639 shares of the business services provider’s stock after selling 20,381 shares during the quarter. Broadridge Financial Solutions accounts for 0.6% of Robeco Institutional Asset Management B.V.’s investment portfolio, making the stock its 28th biggest position. Robeco Institutional Asset Management B.V. owned 1.05% of Broadridge Financial Solutions worth $160,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Morgan Stanley lifted 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 worth $297,411,000 after purchasing an additional 1,367,735 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Broadridge Financial Solutions by 553.2% during the second quarter. Millennium Management LLC now owns 601,086 shares of the business services provider’s stock worth $69,185,000 after purchasing an additional 509,066 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Broadridge Financial Solutions by 28.8% during the second quarter. Wells Fargo & Company MN now owns 1,477,573 shares of the business services provider’s stock worth $170,067,000 after purchasing an additional 330,694 shares in the last quarter. Boston Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 387.4% during the second quarter. Boston Advisors LLC now owns 383,801 shares of the business services provider’s stock worth $44,175,000 after purchasing an additional 305,061 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Broadridge Financial Solutions by 82.1% during the second quarter. Acadian Asset Management LLC now owns 571,884 shares of the business services provider’s stock worth $65,823,000 after purchasing an additional 257,779 shares in the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.

A number of brokerages have commented on BR. Wolfe Research began coverage on Broadridge Financial Solutions in a research note on Tuesday, July 17th. They set a “market perform” rating on the stock. Sandler O’Neill restated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Zacks Investment Research cut Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, SunTrust Banks began coverage on Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $123.40.

In related news, CEO Richard J. Daly sold 67,974 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $126.61, for a total value of $8,606,188.14. Following the completion of the sale, the chief executive officer now directly owns 233,673 shares of the company’s stock, valued at $29,585,338.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Daly sold 47,192 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $134.11, for a total value of $6,328,919.12. Following the completion of the sale, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at $51,945,630.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 325,354 shares of company stock valued at $42,709,350. 2.30% of the stock is owned by corporate insiders.

Shares of Broadridge Financial Solutions stock opened at $107.21 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.69 and a quick ratio of 1.28. The stock has a market capitalization of $12.69 billion, a P/E ratio of 25.59, a PEG ratio of 2.32 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a fifty-two week low of $86.80 and a fifty-two week high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.11. The firm had revenue of $973.00 million during the quarter, compared to analyst estimates of $970.19 million. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. Broadridge Financial Solutions’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

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About Broadridge Financial Solutions

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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