Independent Portfolio Consultants buys $2,562,536 stake in Broadridge Financial Solutions (BR)

Broadridge Financial Solutions (BR) : Independent Portfolio Consultants scooped up 8,290 additional shares in Broadridge Financial Solutions during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 38,065 shares of Broadridge Financial Solutions which is valued at $2,562,536.Broadridge Financial Solutions makes up approximately 0.81% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in BR by selling 35,786 shares or 57.9% in the most recent quarter. The Hedge Fund company now holds 26,018 shares of BR which is valued at $1,751,532. Broadridge Financial Solutions makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank reduced its stake in BR by selling 44 shares or 62.86% in the most recent quarter. The Hedge Fund company now holds 26 shares of BR which is valued at $1,750.Bath Savings Trust Co boosted its stake in BR in the latest quarter, The investment management firm added 6,350 additional shares and now holds a total of 84,746 shares of Broadridge Financial Solutions which is valued at $5,705,101. Broadridge Financial Solutions makes up approx 1.80% of Bath Savings Trust Co’s portfolio.

Broadridge Financial Solutions closed down -0.24 points or -0.36% at $67.34 with 5,53,769 shares getting traded on Tuesday. Post opening the session at $67.91, the shares hit an intraday low of $67.26 and an intraday high of $68.24 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Broadridge Financial Solutions reported $1.45 EPS for the quarter, based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus estimate of $1.45. The company had revenue of $974.50 million for the quarter, compared to analysts expectations of $988.65 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS.

Many Wall Street Analysts have commented on Broadridge Financial Solutions. Broadridge Financial Solutions was Downgraded by Sandler O’Neill to ” Hold” on Sep 29, 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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