Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,146 shares of the business services provider’s stock after selling 162 shares during the quarter. Retirement Systems of Alabama’s holdings in Broadridge Financial Solutions were worth $6,097,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BR. Vanguard Group Inc. increased its position in shares of Broadridge Financial Solutions by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after buying an additional 74,674 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after buying an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after buying an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after buying an additional 43,533 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Broadridge Financial Solutions by 2.5% in the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after buying an additional 40,506 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BR. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions Trading Up 0.7%

Broadridge Financial Solutions stock opened at $241.97 on Wednesday. The stock has a market cap of $28.42 billion, a PE ratio of 36.39 and a beta of 0.96. The stock has a 50-day moving average price of $238.56 and a 200 day moving average price of $235.25. Broadridge Financial Solutions, Inc. has a 52 week low of $195.64 and a 52 week high of $247.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the transaction, the vice president now directly owns 6,077 shares of the company’s stock, valued at $1,441,829.02. The trade was a 37.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock worth $4,352,298 in the last 90 days. 1.30% of the stock is owned by company insiders.

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.