California Public Employees Retirement System Purchases 3,840 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

California Public Employees Retirement System lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 733,194 shares of the business services provider’s stock after purchasing an additional 3,840 shares during the period. California Public Employees Retirement System owned 0.62% of Broadridge Financial Solutions worth $150,855,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Procyon Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 2.3% in the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 52 shares in the last quarter. Optas LLC boosted its position in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 57 shares in the last quarter. Signaturefd LLC increased its stake in Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after acquiring an additional 58 shares during the period. Teamwork Financial Advisors LLC lifted its stake in Broadridge Financial Solutions by 1.6% during the fourth quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider’s stock worth $841,000 after purchasing an additional 63 shares during the period. Finally, Tributary Capital Management LLC raised its holdings in shares of Broadridge Financial Solutions by 1.6% in the 4th quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock worth $900,000 after buying an additional 68 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 in the last quarter. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR stock opened at $195.91 on Wednesday. Broadridge Financial Solutions, Inc. has a twelve month low of $139.52 and a twelve month high of $210.24. 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 $23.07 billion, a P/E ratio of 34.13 and a beta of 0.99. The business’s fifty day moving average is $200.70 and its 200-day moving average is $194.45.

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

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio is 55.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Evercore ISI reissued an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Raymond James increased 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 note on Friday, February 2nd. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.67.

Broadridge Financial Solutions 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.