New York State Common Retirement Fund Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

New York State Common Retirement Fund cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,916 shares of the business services provider’s stock after selling 3,037 shares during the quarter. New York State Common Retirement Fund’s holdings in Broadridge Financial Solutions were worth $17,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after acquiring an additional 51,439 shares during the last quarter. Geode Capital Management LLC boosted its stake in Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after acquiring an additional 15,208 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Broadridge Financial Solutions by 0.4% during the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after purchasing an additional 5,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after purchasing an additional 20,775 shares during the period. Finally, abrdn plc raised its holdings in shares of Broadridge Financial Solutions by 5.5% during the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after purchasing an additional 27,869 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,666 shares of company stock valued at $5,050,766. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.4 %

BR stock opened at $235.31 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47. The firm’s 50-day simple moving average is $232.79 and its 200 day simple moving average is $223.40. The stock has a market cap of $27.54 billion, a PE ratio of 36.82 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.