Shelton Capital Management Decreases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Shelton Capital Management cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,944 shares of the business services provider’s stock after selling 1,245 shares during the quarter. Shelton Capital Management’s holdings in Broadridge Financial Solutions were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its holdings in shares of Broadridge Financial Solutions by 8.2% in the first quarter. UBS Asset Management Americas Inc. now owns 466,326 shares of the business services provider’s stock worth $31,687,000 after buying an additional 35,294 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Broadridge Financial Solutions by 26.4% in the first quarter. JPMorgan Chase & Co. now owns 485,103 shares of the business services provider’s stock worth $32,963,000 after buying an additional 101,392 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 36.6% in the first quarter. Victory Capital Management Inc. now owns 24,415 shares of the business services provider’s stock worth $1,659,000 after buying an additional 6,545 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock worth $123,000 after buying an additional 135 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Broadridge Financial Solutions by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock valued at $839,000 after purchasing an additional 2,092 shares in the last quarter. 83.69% of the stock is currently owned by institutional investors and hedge funds.

In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stuart R. Levine sold 7,868 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the transaction, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The disclosure for this sale can be found here. Insiders sold a total of 119,720 shares of company stock valued at $9,679,916 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They issued a “neutral” rating and a $74.00 target price on the stock. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Barclays PLC raised their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th.

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Shares of Broadridge Financial Solutions, Inc. (NYSE BR) traded down 0.23% on Tuesday, reaching $82.91. 48,443 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $80.09 and a 200 day moving average price of $75.03. Broadridge Financial Solutions, Inc. has a one year low of $59.86 and a one year high of $83.27. The firm has a market cap of $9.66 billion, a PE ratio of 30.71 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $1.45 EPS. Broadridge Financial Solutions’s quarterly revenue was up 38.1% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions, Inc. will post $3.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were paid a $0.365 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, September 14th. This represents a $1.46 annualized dividend and a yield of 1.76%. Broadridge Financial Solutions’s payout ratio is 53.48%.

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.

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

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