Anchor Capital Advisors Lowers stake in Broadridge Financial Solutions (BR)

Broadridge Financial Solutions (BR) : Anchor Capital Advisors reduced its stake in Broadridge Financial Solutions by 3.81% during the most recent quarter end. The investment management company now holds a total of 1,242,115 shares of Broadridge Financial Solutions which is valued at $84,438,978 after selling 49,211 shares in Broadridge Financial Solutions , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Broadridge Financial Solutions makes up approximately 2.17% of Anchor Capital Advisors’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in BR by selling 5,402 shares or 2.12% in the most recent quarter. The Hedge Fund company now holds 249,234 shares of BR which is valued at $16,942,927. Broadridge Financial Solutions makes up approx 0.04% of California State Teachers Retirement System’s portfolio.Quadrant Capital Group boosted its stake in BR in the latest quarter, The investment management firm added 29 additional shares and now holds a total of 888 shares of Broadridge Financial Solutions which is valued at $60,100. Broadridge Financial Solutions makes up approx 0.04% of Quadrant Capital Group’s portfolio.Financial Architects Inc boosted its stake in BR in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 3,148 shares of Broadridge Financial Solutions which is valued at $214,631. Broadridge Financial Solutions makes up approx 0.06% of Financial Architects Inc’s portfolio. Middleton Co Incma added BR to its portfolio by purchasing 72,430 company shares during the most recent quarter which is valued at $4,928,862. Broadridge Financial Solutions makes up approx 1.09% of Middleton Co Incma’s portfolio.

Broadridge Financial Solutions opened for trading at $68.05 and hit $68.55 on the upside on Thursday, eventually ending the session at $68.28, with a gain of 0.44% or 0.3 points. The heightened volatility saw the trading volume jump to 6,95,755 shares. Company has a market cap of $8,072 M.

On the company’s financial health, Broadridge Financial Solutions reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.51. The company had revenue of $688.80 million for the quarter, compared to analysts expectations of $686.40 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Broadridge Financial Solutions. Barclays Downgraded Broadridge Financial Solutions on Jul 7, 2016 to ” Equal Weight”, Price Target of the shares are set at $67.Broadridge Financial Solutions was Downgraded by Avondale to ” Mkt Perform” on Jun 15, 2016. Broadridge Financial Solutions was Downgraded by Raymond James to ” Mkt Perform” on Jun 7, 2016.

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 delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle including pre-trade trade and post-trade processing. It serves a diverse client base across its five businesses: Bank/Broker-Dealer Investor Communication Solutions Corporate Issuer Solutions Advisor Solutions Mutual Fund and Retirement Solutions and Global Technology and Operations. Its businesses operate in two business segments: Investor Communication Solutions and Global Technology and Operations. Its services include investor communications securities processing and data and analytics solutions. It provides an infrastructure that helps the financial services industry operate. It provides financial services firms with integrated systems.

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