California Public Employees Retirement System Sells 6,961 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

California Public Employees Retirement System trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 531,647 shares of the business services provider’s stock after selling 6,961 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Broadridge Financial Solutions worth $120,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. True Wealth Design LLC grew its stake in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of 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 worth $35,000 after acquiring an additional 111 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions in the fourth quarter worth $41,000. FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the third quarter worth $39,000. Finally, Curio Wealth LLC bought a new position in Broadridge Financial Solutions in the fourth quarter valued at $45,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last 90 days. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $237.60 on Monday. 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 fifty-two week low of $188.30 and a fifty-two week high of $246.58. The company has a market capitalization of $27.80 billion, a P/E ratio of 37.18 and a beta of 1.05. The stock has a 50 day moving average price of $236.97 and a two-hundred day moving average price of $227.77.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $0.92 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

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 dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BR. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. UBS Group lifted 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. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $241.00.

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.