Retirement Systems of Alabama Has $6.23 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Retirement Systems of Alabama reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,045 shares of the business services provider’s stock after selling 4,116 shares during the period. Retirement Systems of Alabama’s holdings in Broadridge Financial Solutions were worth $6,227,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Atria Investments LLC grew its stake in shares of Broadridge Financial Solutions by 314.6% in the 2nd quarter. Atria Investments LLC now owns 10,120 shares of the business services provider’s stock valued at $1,273,000 after buying an additional 7,679 shares during the period. Griffin Asset Management Inc. grew its stake in shares of Broadridge Financial Solutions by 3.7% in the 2nd quarter. Griffin Asset Management Inc. now owns 28,330 shares of the business services provider’s stock valued at $3,617,000 after buying an additional 1,010 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Broadridge Financial Solutions by 49.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 201,710 shares of the business services provider’s stock valued at $25,754,000 after buying an additional 66,970 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Broadridge Financial Solutions by 301.9% in the 2nd quarter. AustralianSuper Pty Ltd now owns 223,046 shares of the business services provider’s stock valued at $28,479,000 after buying an additional 167,547 shares during the period. Finally, Copeland Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 14.1% in the 2nd quarter. Copeland Capital Management LLC now owns 111,523 shares of the business services provider’s stock valued at $14,239,000 after buying an additional 13,793 shares during the period. Hedge funds and other institutional investors own 88.23% of the company’s stock.

In other Broadridge Financial Solutions news, insider C Elisa D. Garcia sold 5,089 shares of Broadridge Financial Solutions stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $15.48, for a total transaction of $78,777.72. Also, Chairman Richard J. Daly sold 55,481 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $126.67, for a total value of $7,027,778.27. Following the transaction, the chairman now owns 272,180 shares of the company’s stock, valued at approximately $34,477,040.60. The disclosure for this sale can be found here. Insiders have sold a total of 317,133 shares of company stock valued at $39,829,477 in the last quarter. Company insiders own 2.20% of the company’s stock.

BR stock opened at $116.84 on Thursday. The company has a market capitalization of $14.13 billion, a P/E ratio of 25.07 and a beta of 0.69. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.30 and a current ratio of 1.30. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $136.99. The business has a 50-day simple moving average of $124.06 and a two-hundred day simple moving average of $125.94.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). The company had revenue of $949.00 million for the quarter, compared to analyst estimates of $979.61 million. Broadridge Financial Solutions had a net margin of 11.05% and a return on equity of 46.61%. Broadridge Financial Solutions’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 5.12 earnings per share for the current fiscal year.

Several analysts have recently commented on the company. SunTrust Banks raised their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. ValuEngine downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Raymond James downgraded Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $129.20.

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.

Featured Article: Certificate of Deposit (CD)

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.