Broadridge Financial Solutions, Inc. (BR) Stake Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 22.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,368 shares of the business services provider’s stock after selling 10,455 shares during the period. Nuveen Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $2,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capstone Asset Management Co. boosted its position in shares of Broadridge Financial Solutions by 2.0% in the first quarter. Capstone Asset Management Co. now owns 13,075 shares of the business services provider’s stock worth $888,000 after buying an additional 260 shares in the last quarter. First National Bank of Omaha boosted its position in shares of Broadridge Financial Solutions by 99.8% in the first quarter. First National Bank of Omaha now owns 155,074 shares of the business services provider’s stock worth $8,830,000 after buying an additional 77,461 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Broadridge Financial Solutions by 5.2% in the first quarter. Bank of Montreal Can now owns 28,320 shares of the business services provider’s stock worth $1,923,000 after buying an additional 1,397 shares in the last quarter. Pennsylvania Trust Co boosted its position in shares of Broadridge Financial Solutions by 0.4% in the first quarter. Pennsylvania Trust Co now owns 122,137 shares of the business services provider’s stock worth $8,299,000 after buying an additional 479 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of Broadridge Financial Solutions by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 34,900 shares of the business services provider’s stock worth $2,371,000 after buying an additional 300 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of Broadridge Financial Solutions, Inc. (NYSE BR) traded down 0.71% on Tuesday, hitting $75.06. The stock had a trading volume of 360,747 shares. The company has a market cap of $8.83 billion, a P/E ratio of 29.40 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52-week low of $59.86 and a 52-week high of $78.00. The company has a 50-day moving average of $75.57 and a 200-day moving average of $71.18.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.65 million. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. Broadridge Financial Solutions’s revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post $3.12 EPS for the current fiscal year.

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A number of research firms have recently issued reports on BR. BidaskClub cut Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Zacks Investment Research upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Monday, April 10th. Finally, DA Davidson initiated coverage on Broadridge Financial Solutions in a report on Monday. They issued a “neutral” rating and a $74.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $74.75.

In other news, insider Robert Schifellite sold 76,666 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the transaction, the insider now directly owns 105,042 shares of the company’s stock, valued at $7,981,091.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Laura Matlin sold 630 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the transaction, the vice president now directly owns 5,271 shares in the company, valued at $378,932.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,032 shares of company stock valued at $24,016,648. 3.50% of the stock is owned by company 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.

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

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