Strs Ohio Acquires 9,071 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Strs Ohio increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 34.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,571 shares of the business services provider’s stock after acquiring an additional 9,071 shares during the quarter. Strs Ohio’s holdings in Broadridge Financial Solutions were worth $7,318,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Broadridge Financial Solutions by 680.1% in the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after acquiring an additional 74,387 shares during the period. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth $227,750,000. Crown Oak Advisors LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth $7,032,000. Comerica Bank bought a new position in Broadridge Financial Solutions in the 3rd quarter worth $8,116,000. Finally, Gotham Asset Management LLC raised its holdings in Broadridge Financial Solutions by 176.1% in the 3rd quarter. Gotham Asset Management LLC now owns 21,357 shares of the business services provider’s stock worth $3,824,000 after acquiring an additional 13,621 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $193.40 on Thursday. The firm has a market cap of $22.78 billion, a PE ratio of 33.69 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12 month low of $139.52 and a 12 month high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The company’s 50-day moving average price is $200.96 and its two-hundred day moving average price is $193.89.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Analyst Ratings Changes

BR has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James boosted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and an average price target of $206.67.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,483 shares of company stock valued at $9,745,637. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions 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.