Wells Fargo & Company MN Sells 245,836 Shares of Broadridge Financial Solutions, Inc. (BR)

Wells Fargo & Company MN decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,154,205 shares of the business services provider’s stock after selling 245,836 shares during the quarter. Wells Fargo & Company MN owned about 0.98% of Broadridge Financial Solutions worth $87,212,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BR. Bank of Montreal Can raised its stake in Broadridge Financial Solutions by 5.2% during the first quarter. Bank of Montreal Can now owns 28,320 shares of the business services provider’s stock valued at $1,923,000 after purchasing an additional 1,397 shares in the last quarter. Strs Ohio raised its stake in Broadridge Financial Solutions by 12.0% during the first quarter. Strs Ohio now owns 8,656 shares of the business services provider’s stock valued at $588,000 after purchasing an additional 927 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Broadridge Financial Solutions by 9.7% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,966 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 794 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Broadridge Financial Solutions by 36.0% during the first quarter. Advisors Asset Management Inc. now owns 15,906 shares of the business services provider’s stock valued at $1,081,000 after purchasing an additional 4,213 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Broadridge Financial Solutions by 13.1% during the first quarter. Daiwa Securities Group Inc. now owns 3,450 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 400 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the stock. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Barclays PLC upped their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price target on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $76.00.

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In other news, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the transaction, the insider now directly owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.58, for a total value of $602,531.44. Following the transaction, the director now directly owns 39,747 shares of the company’s stock, valued at $3,043,825.26. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 80.48 on Wednesday. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 29.81 and a beta of 0.97. The company has a 50-day moving average of $76.53 and a 200-day moving average of $72.92. Broadridge Financial Solutions, Inc. has a 1-year low of $59.86 and a 1-year high of $80.48.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. Broadridge Financial Solutions’s revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post $3.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be given a $0.365 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 14th. Broadridge Financial Solutions’s payout ratio is currently 48.35%.

Broadridge Financial Solutions Company Profile

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.

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

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