Guggenheim Capital LLC Sells 66,202 Shares of Broadridge Financial Solutions, Inc. (BR)

Guggenheim Capital LLC decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 31.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,823 shares of the business services provider’s stock after selling 66,202 shares during the period. Guggenheim Capital LLC owned approximately 0.12% of Broadridge Financial Solutions worth $16,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its stake in shares of Broadridge Financial Solutions by 15.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 11,132 shares of the business services provider’s stock worth $1,008,000 after buying an additional 1,523 shares during the period. Amalgamated Bank boosted its stake in shares of Broadridge Financial Solutions by 5.5% during the fourth quarter. Amalgamated Bank now owns 24,643 shares of the business services provider’s stock worth $2,232,000 after buying an additional 1,291 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Broadridge Financial Solutions by 7.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 551,297 shares of the business services provider’s stock worth $49,936,000 after buying an additional 38,236 shares during the period. Thrivent Financial For Lutherans boosted its stake in shares of Broadridge Financial Solutions by 5.2% during the fourth quarter. Thrivent Financial For Lutherans now owns 26,271 shares of the business services provider’s stock worth $2,380,000 after buying an additional 1,287 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Broadridge Financial Solutions by 38.2% during the fourth quarter. Toronto Dominion Bank now owns 6,864 shares of the business services provider’s stock worth $621,000 after buying an additional 1,898 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

In other news, SVP Robert Schifellite sold 43,686 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $118.70, for a total transaction of $5,185,528.20. Following the completion of the sale, the senior vice president now directly owns 125,533 shares in the company, valued at approximately $14,900,767.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Julie R. Taylor sold 1,197 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $114.73, for a total transaction of $137,331.81. Following the sale, the vice president now owns 2,762 shares of the company’s stock, valued at $316,884.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 203,270 shares of company stock valued at $23,520,457. 2.60% of the stock is owned by insiders.

Shares of NYSE:BR opened at $116.48 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $13.74 billion, a P/E ratio of 37.21, a PEG ratio of 2.77 and a beta of 0.86. Broadridge Financial Solutions, Inc. has a 52 week low of $71.58 and a 52 week high of $119.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, May 8th. The business services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.21. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Broadridge Financial Solutions had a net margin of 9.37% and a return on equity of 45.33%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 15th will be given a $0.365 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.25%. Broadridge Financial Solutions’s payout ratio is currently 46.65%.

Several equities research analysts have recently weighed in on BR shares. ValuEngine downgraded shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 10th. Finally, DA Davidson raised their price objective on shares of Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $100.25.

About Broadridge Financial Solutions

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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