Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,260 shares of the business services provider’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Broadridge Financial Solutions were worth $6,609,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BR. Headinvest LLC bought a new position in shares of Broadridge Financial Solutions during the third quarter worth about $32,000. Stuart Chaussee & Associates Inc. bought a new position in Broadridge Financial Solutions in the fourth quarter worth about $34,000. Manchester Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the last quarter. BKM Wealth Management LLC bought a new position in Broadridge Financial Solutions in the fourth quarter worth about $37,000. Finally, Exchange Traded Concepts LLC bought a new position in Broadridge Financial Solutions in the fourth quarter worth about $39,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $1.64 during mid-day trading on Tuesday, hitting $198.20. The company’s stock had a trading volume of 264,418 shares, compared to its average volume of 511,392. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $23.42 billion, a P/E ratio of 33.54 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a twelve month low of $161.85 and a twelve month high of $210.24. The stock’s fifty day moving average price is $198.15 and its two-hundred day moving average price is $200.02.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $2.05 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a report on Friday. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $206.67.

About Broadridge Financial Solutions

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.