Squar Milner Financial Services LLC Reduces Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Squar Milner Financial Services LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,292 shares of the business services provider’s stock after selling 150 shares during the period. Squar Milner Financial Services LLC’s holdings in Broadridge Financial Solutions were worth $165,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Investment Management of Virginia LLC lifted its stake in Broadridge Financial Solutions by 0.8% in the first quarter. Investment Management of Virginia LLC now owns 11,977 shares of the business services provider’s stock valued at $1,242,000 after purchasing an additional 90 shares during the last quarter. Eukles Asset Management lifted its stake in Broadridge Financial Solutions by 4.6% in the first quarter. Eukles Asset Management now owns 2,617 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 115 shares during the last quarter. Advisory Services Network LLC lifted its stake in Broadridge Financial Solutions by 1.0% in the first quarter. Advisory Services Network LLC now owns 11,964 shares of the business services provider’s stock valued at $1,239,000 after purchasing an additional 118 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in Broadridge Financial Solutions by 3.4% in 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 last quarter. Finally, ETF Managers Group LLC lifted its stake in Broadridge Financial Solutions by 10.1% in 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 last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Several research firms have issued reports on BR. DA Davidson downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Friday, May 10th. ValuEngine downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. Finally, SunTrust Banks increased their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $129.33.

In other news, VP Douglas Richard Deschutter sold 13,167 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $122.50, for a total value of $1,612,957.50. Following the transaction, the vice president now owns 103,849 shares of the company’s stock, valued at $12,721,502.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Adam D. Amsterdam sold 20,880 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $128.92, for a total transaction of $2,691,849.60. Following the completion of the transaction, the vice president now directly owns 20,365 shares in the company, valued at approximately $2,625,455.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,149 shares of company stock worth $23,659,712. Company insiders own 2.30% of the company’s stock.

Shares of NYSE:BR traded down $0.07 during trading on Tuesday, hitting $121.01. 233,272 shares of the company were exchanged, compared to its average volume of 577,757. The firm has a market cap of $14.19 billion, a P/E ratio of 27.41, a PEG ratio of 2.50 and a beta of 0.72. The firm’s 50 day moving average is $131.02. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24. The company has a current ratio of 1.30, a quick ratio of 1.70 and a debt-to-equity ratio of 1.30.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 earnings per share. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 5.11 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.16 annualized dividend and a dividend yield of 1.78%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.49.

Broadridge Financial Solutions 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.

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

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