Arizona State Retirement System Acquires 91 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Arizona State Retirement System grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,950 shares of the business services provider’s stock after acquiring an additional 91 shares during the quarter. Arizona State Retirement System’s holdings in Broadridge Financial Solutions were worth $7,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in Broadridge Financial Solutions by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 20,967 shares of the business services provider’s stock valued at $4,536,000 after acquiring an additional 2,079 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Broadridge Financial Solutions by 7.3% during the third quarter. QRG Capital Management Inc. now owns 7,293 shares of the business services provider’s stock valued at $1,568,000 after purchasing an additional 498 shares during the period. Amalgamated Bank raised its stake in shares of Broadridge Financial Solutions by 4.6% in the third quarter. Amalgamated Bank now owns 26,418 shares of the business services provider’s stock valued at $5,681,000 after purchasing an additional 1,152 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Broadridge Financial Solutions by 5.1% in the third quarter. Concurrent Investment Advisors LLC now owns 8,838 shares of the business services provider’s stock worth $1,900,000 after purchasing an additional 425 shares during the period. Finally, Graypoint LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth $216,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,441 shares of company stock valued at $1,547,835 over the last three months. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BR shares. JPMorgan Chase & Co. increased 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 note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $241.30 on Friday. The stock has a market capitalization of $28.24 billion, a price-to-earnings ratio of 37.76 and a beta of 1.05. The firm’s 50-day moving average price is $235.05 and its two-hundred day moving average price is $225.07. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last announced its 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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders 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 dividend yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

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.