Pacer Advisors Inc. lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.4% during the second quarter, Holdings Channel reports. The fund owned 10,982 shares of the business services provider’s stock after acquiring an additional 1,039 shares during the quarter. Pacer Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $1,402,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC increased its position in Broadridge Financial Solutions by 1.0% in the 1st quarter. Advisory Services Network LLC now owns 11,964 shares of the business services provider’s stock worth $1,239,000 after buying an additional 118 shares during the period. SeaCrest Wealth Management LLC increased its position in shares of Broadridge Financial Solutions by 3.4% during the second quarter. SeaCrest Wealth Management LLC now owns 3,621 shares of the business services provider’s stock valued at $462,000 after purchasing an additional 118 shares during the period. Tocqueville Asset Management L.P. increased its position in shares of Broadridge Financial Solutions by 2.7% during the second quarter. Tocqueville Asset Management L.P. now owns 4,499 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 118 shares during the period. ETF Managers Group LLC increased its position in shares of Broadridge Financial Solutions by 10.1% during the first quarter. ETF Managers Group LLC now owns 1,314 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 120 shares during the period. Finally, Hartford Investment Management Co. increased its position in shares of Broadridge Financial Solutions by 1.0% during the second quarter. Hartford Investment Management Co. now owns 12,816 shares of the business services provider’s stock valued at $1,636,000 after purchasing an additional 130 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

BR stock traded up $0.17 during trading on Friday, hitting $124.47. The company had a trading volume of 3,669 shares, compared to its average volume of 627,936. The company has a fifty day moving average price of $128.67 and a two-hundred day moving average price of $120.45. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.30. The company has a market cap of $14.21 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.44 and a beta of 0.71. Broadridge Financial Solutions, Inc. has a fifty-two week low of $91.34 and a fifty-two week high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $1.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.72. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. Broadridge Financial Solutions’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 5.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a $0.54 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, September 12th. This represents a $2.16 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s payout ratio is currently 41.63%.

A number of analysts have recently issued reports on the company. Raymond James cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, SunTrust Banks boosted their price objective on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Broadridge Financial Solutions presently has a consensus rating of “Buy” and an average target price of $129.20.

In related news, VP Adam D. Amsterdam sold 20,880 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $128.92, for a total value of $2,691,849.60. Following the sale, the vice president now owns 20,365 shares of the company’s stock, valued at approximately $2,625,455.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stuart R. Levine sold 25,260 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $126.27, for a total value of $3,189,580.20. Following the completion of the sale, the director now directly owns 47,886 shares in the company, valued at approximately $6,046,565.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,557 shares of company stock worth $25,390,855. 2.30% of the stock is owned by 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.

See Also: Earnings Per Share (EPS)

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

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