New York State Common Retirement Fund Cuts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

New York State Common Retirement Fund reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 125,923 shares of the business services provider’s stock after selling 10,894 shares during the period. New York State Common Retirement Fund’s holdings in Broadridge Financial Solutions were worth $25,909,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IFP Advisors Inc increased its position in Broadridge Financial Solutions by 33.5% during the 3rd quarter. IFP Advisors Inc now owns 550 shares of the business services provider’s stock worth $98,000 after purchasing an additional 138 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at $210,000. Caprock Group LLC boosted its holdings in shares of Broadridge Financial Solutions by 37.7% during the third quarter. Caprock Group LLC now owns 2,106 shares of the business services provider’s stock valued at $379,000 after acquiring an additional 577 shares during the period. Oak Thistle LLC boosted its holdings in shares of Broadridge Financial Solutions by 217.2% during the third quarter. Oak Thistle LLC now owns 4,495 shares of the business services provider’s stock valued at $805,000 after acquiring an additional 3,078 shares during the period. Finally, Czech National Bank boosted its holdings in shares of Broadridge Financial Solutions by 47.8% during the third quarter. Czech National Bank now owns 20,644 shares of the business services provider’s stock valued at $3,696,000 after acquiring an additional 6,678 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

BR stock opened at $194.05 on Friday. 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 has a 50-day simple moving average of $200.62 and a 200 day simple moving average of $194.46. Broadridge Financial Solutions, Inc. has a fifty-two week low of $140.06 and a fifty-two week high of $210.24. The company has a market capitalization of $22.85 billion, a P/E ratio of 33.81 and a beta of 0.99.

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

Broadridge Financial Solutions Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on BR. Evercore ISI reissued an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Raymond James upped 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. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective 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. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price 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 sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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 owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is owned by corporate insiders.

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.