Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% in the 3rd quarter, Holdings Channel reports. The firm owned 94,632 shares of the business services provider’s stock after selling 4,690 shares during the period. New York State Teachers Retirement System’s holdings in Broadridge Financial Solutions were worth $20,349,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its stake in 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 buying an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions in the second quarter valued at $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock valued at $28,112,824 over the last three months. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. Finally, Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $210.21 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $171.45 and a 12 month high of $224.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50 day simple moving average is $213.54 and its 200-day simple moving average is $206.03. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 35.87 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $3.21 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

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.