Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,655 shares of the business services provider’s stock after acquiring an additional 2,698 shares during the quarter. California State Teachers Retirement System’s holdings in Broadridge Financial Solutions were worth $40,287,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. LifeSteps Financial Inc. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $32,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Manchester Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after buying an additional 60 shares during the period. McClarren Financial Advisors Inc. raised its stake in shares of Broadridge Financial Solutions by 73.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock worth $42,000 after buying an additional 87 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Broadridge Financial Solutions by 157.0% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after buying an additional 168 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.6 %

NYSE:BR traded down $1.40 during trading hours on Wednesday, hitting $213.99. The company had a trading volume of 516,707 shares, compared to its average volume of 504,215. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $201.29 and a 200 day moving average of $200.76. The company has a market cap of $25.29 billion, a P/E ratio of 36.52 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 1 year low of $164.99 and a 1 year high of $216.86.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BR shares. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Finally, DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

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.