New York State Common Retirement Fund Sells 10,894 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

New York State Common Retirement Fund trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,923 shares of the business services provider’s stock after selling 10,894 shares during the period. New York State Common Retirement Fund owned about 0.11% of Broadridge Financial Solutions worth $25,909,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BR. Stifel Financial Corp boosted its position in Broadridge Financial Solutions by 1,700.7% in the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after buying an additional 1,456,847 shares during the period. Envestnet Asset Management Inc. lifted its position in Broadridge Financial Solutions by 124.8% during the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after acquiring an additional 381,882 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $227,750,000. Assenagon Asset Management S.A. increased its stake in Broadridge Financial Solutions by 1,865.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after purchasing an additional 88,613 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Broadridge Financial Solutions by 307.8% during the 3rd quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock valued at $19,833,000 after purchasing an additional 83,546 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,483 shares of company stock valued at $9,745,637. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Raymond James raised their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Performance

BR opened at $194.05 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The company has a market cap of $22.85 billion, a price-to-earnings ratio of 33.81 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52-week low of $140.06 and a 52-week high of $210.24. The firm’s fifty day simple moving average is $200.62 and its two-hundred day simple moving average is $194.46.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.