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

New York State Teachers Retirement System lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,322 shares of the business services provider’s stock after selling 2,200 shares during the period. New York State Teachers Retirement System owned about 0.08% of Broadridge Financial Solutions worth $19,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New England Research & Management Inc. purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $1,465,000. Bank of Nova Scotia increased its stake in shares of Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock valued at $16,707,000 after acquiring an additional 70,263 shares during the last quarter. UBS Group AG lifted its holdings in shares of Broadridge Financial Solutions by 8.2% during the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after acquiring an additional 14,147 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $227,750,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Broadridge Financial Solutions by 108.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after purchasing an additional 43,710 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 6,501 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $210.22, for a total transaction of $1,366,640.22. Following the completion of the sale, the president now directly owns 67,771 shares of the company’s stock, valued at $14,246,819.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 6,501 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $210.22, for a total transaction of $1,366,640.22. Following the completion of the transaction, the president now owns 67,771 shares of the company’s stock, valued at approximately $14,246,819.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,648 shares of company stock valued at $14,064,883. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR stock traded down $1.68 during mid-day trading on Friday, reaching $208.54. The company had a trading volume of 184,344 shares, compared to its average volume of 523,014. The stock’s 50-day simple moving average is $205.88 and its two-hundred day simple moving average is $201.65. The stock has a market capitalization of $24.65 billion, a P/E ratio of 35.56 and a beta of 1.04. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.21 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Analyst Ratings Changes

BR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday. DA Davidson reissued a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $213.33.

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.