Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,854 shares of the business services provider’s stock after selling 552 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Broadridge Financial Solutions were worth $5,619,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BR. True Wealth Design LLC lifted its stake in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC lifted its stake in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. FSA Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $39,000. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $41,000. Finally, Truvestments Capital LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This represents a 25.94 % 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, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BR has been the subject of several research reports. JPMorgan Chase & Co. lifted 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. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $233.03 on Friday. The firm has a market cap of $27.27 billion, a PE ratio of 36.47 and a beta of 1.05. The firm has a fifty day moving average of $236.05 and a 200 day moving average of $226.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58.

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 period last year, the firm posted $0.92 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business 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 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

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.