Texas Permanent School Fund Cuts Holdings in Broadridge Financial Solutions, Inc. (BR)

Texas Permanent School Fund lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,505 shares of the business services provider’s stock after selling 978 shares during the quarter. Texas Permanent School Fund’s holdings in Broadridge Financial Solutions were worth $2,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BR. Whittier Trust Co. increased its holdings in Broadridge Financial Solutions by 117.3% during the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock worth $28,000 after buying an additional 156 shares during the last quarter. Pinnacle Bank acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $34,000. 1832 Asset Management L.P. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $39,000. Capital Financial Planning LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $39,000. Finally, Financial Gravity Wealth Inc. acquired a new position in Broadridge Financial Solutions during the first quarter worth $41,000. 84.80% of the stock is currently owned by hedge funds and other institutional investors.

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 1,215 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $108.82, for a total value of $132,216.30. Following the transaction, the vice president now directly owns 4,202 shares in the company, valued at $457,261.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan J. Weber sold 1,980 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total transaction of $198,712.80. Following the completion of the transaction, the director now owns 51,588 shares in the company, valued at $5,177,371.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,055 shares of company stock worth $7,047,889. Corporate insiders own 2.30% of the company’s stock.

A number of equities analysts recently weighed in on BR shares. DA Davidson upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Friday, February 8th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Wednesday, April 10th. SunTrust Banks boosted their target price on shares of Broadridge Financial Solutions to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Raymond James upgraded shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Wednesday, March 13th. Finally, ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $124.50.

NYSE:BR opened at $121.64 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $91.34 and a one year high of $138.24. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.70 and a current ratio of 1.70.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, May 7th. The business services provider reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.94 annualized dividend and a dividend yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

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Broadridge Financial Solutions Profile

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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