Meeder Asset Management Inc. Sells 2,430 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Meeder Asset Management Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 25.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,130 shares of the business services provider’s stock after selling 2,430 shares during the period. Meeder Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $539,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in Broadridge Financial Solutions by 5,792.7% in the first quarter. BlackRock Inc. now owns 12,054,537 shares of the business services provider’s stock valued at $819,107,000 after buying an additional 11,849,968 shares during the last quarter. Vanguard Group Inc. raised its stake in Broadridge Financial Solutions by 3.8% in the first quarter. Vanguard Group Inc. now owns 10,101,144 shares of the business services provider’s stock valued at $686,373,000 after buying an additional 369,176 shares during the last quarter. Independence Advisors LLC acquired a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $21,006,000. Scout Investments Inc. acquired a new stake in Broadridge Financial Solutions during the first quarter valued at approximately $14,727,000. Finally, Baird Financial Group Inc. raised its stake in Broadridge Financial Solutions by 53.0% in the first quarter. Baird Financial Group Inc. now owns 646,253 shares of the business services provider’s stock valued at $43,913,000 after buying an additional 223,959 shares during the last quarter. 85.22% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions, Inc. (BR) traded up 0.70% during mid-day trading on Monday, reaching $75.99. 135,392 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $75.41 and its 200 day moving average is $70.87. Broadridge Financial Solutions, Inc. has a 1-year low of $59.86 and a 1-year high of $78.00. The stock has a market capitalization of $8.93 billion, a PE ratio of 29.76 and a beta of 1.00.

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

The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, June 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 51.56%.

TRADEMARK VIOLATION WARNING: This news story was reported by [[site]] and is the sole property of of [[site]]. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at [[permalink]].

Several equities research analysts have recently issued reports on BR shares. BidaskClub raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $75.00.

In other Broadridge Financial Solutions news, VP Laura Matlin sold 630 shares of the stock in a transaction dated 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 sale, the vice president now owns 5,271 shares in the company, valued at approximately $378,932.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schifellite sold 76,666 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the completion of the sale, the insider now owns 105,042 shares of the company’s stock, valued at approximately $7,981,091.16. 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. Insiders own 3.50% of the company’s stock.

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.