Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 40,186 shares of the business services provider’s stock after selling 1,815 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Broadridge Financial Solutions were worth $9,086,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $353,000. Allworth Financial LP increased its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Allworth Financial LP now owns 1,377 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 63 shares during the last quarter. Principal Securities Inc. increased its stake in Broadridge Financial Solutions by 3.6% in the fourth quarter. Principal Securities Inc. now owns 6,566 shares of the business services provider’s stock valued at $1,485,000 after purchasing an additional 228 shares during the last quarter. Congress Asset Management Co. increased its stake in Broadridge Financial Solutions by 1.9% in the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider’s stock valued at $18,946,000 after purchasing an additional 1,579 shares during the last quarter. Finally, Lord & Richards Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $539,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $239.01 on Wednesday. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47. The business has a 50-day moving average of $232.69 and a 200-day moving average of $222.98. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 37.40 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, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.92 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $239.17.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,666 shares of company stock valued at $5,050,766. Insiders own 1.30% of the company’s stock.

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.