New York State Common Retirement Fund Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

New York State Common Retirement Fund lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,916 shares of the business services provider’s stock after selling 3,037 shares during the period. New York State Common Retirement Fund owned 0.07% of Broadridge Financial Solutions worth $17,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $38,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BR shares. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $235.31 on Friday. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $244.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The company has a 50 day moving average price of $232.79 and a 200 day moving average price of $223.40. The firm has a market capitalization of $27.54 billion, a price-to-earnings ratio of 36.82 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the business earned $0.92 earnings per share. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,666 shares of company stock worth $5,050,766 over the last ninety 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.