Broadridge Financial Solutions (NYSE:BR) Assets Decreased by California Civil Service Retirement Plan

Retirement


The California Public Employees Retirement System reduced its holding of Broadridge Financial Solutions, Inc. (NYSE: BR – Get Rating) by 4.7% in the fourth quarter, according to its latest disclosure to the Securities and Exchange Commission. The fund owned 802,951 shares of the business service provider after selling 39,372 of his shares during the period. The California Public Employees Retirement System owned his 0.68% stake in Broadridge Financial Solutions worth $107.7 million as of the latest filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently changed their holdings in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased additional Broadridge Financial Solutions shares worth approximately $29,000 in the third quarter. Asset Dedication LLC acquired a new stake in his Broadridge Financial Solutions in the fourth quarter for approximately $31,000. MV Capital Management Inc. raised its 33.0% stake in Broadridge Financial Solutions in the fourth quarter. MV Capital Management Inc. now owns 290 shares of business service provider stock valued at $39,000 after purchasing an additional 72 shares during this period. General Partner Inc. won a new position in Broadridge Financial Solutions worth approximately $45,000 in the fourth quarter. Finally, Itau Unibanco Holding SA purchased a new stake in Broadridge Financial Solutions in the third quarter for approximately $54,000. 86.45% of the shares are owned by hedge funds and other institutional investors.

Analyst Rating Change

Several equity research analysts have published reports on the company. StockNews.com began covering Broadridge Financial Solutions in a research note on Thursday, March 16th. They set a “pending” rating on the company. TheStreet upgraded Broadridge Financial Solutions’ stock from a ‘c+’ rating to a ‘b’ rating in a research report on Thursday, February 2nd. Royal Bank of Canada began covering shares of Broadridge Financial Solutions in a report on Monday, April 24th. They announced an “Outperform” rating and a company target price of $169.00. Finally, Raymond his James raised his price target on Broadridge Financial Solutions shares from his $180.00 to his $183.00, giving the company an “Outperform” rating in a report on Friday, February 3. I was. Two investment analysts gave the stock a hold rating and two gave the company’s stock a buy rating. According to MarketBeat.com data, the company’s current consensus rating is “moderate buy” with a consensus target price of $161.40.

Broadridge Financial Solutions stock performance

NYSE:BR opened at $152.87 on Friday. The company has a 50-day simple moving average of $142.61 and a 200-day simple moving average of $142.81. The company has a market capitalization of $18.04 billion, a price/earnings ratio of 32.80, and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt to equity ratio of 2.04. Broadridge Financial Solutions, Inc. has a 52-week low of $131.35 and a 52-week high of $183.33.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The business service provider posted earnings per share (EPS) of $2.05 for the quarter, beating consensus expectations of $2.01 by $0.04. The business reported revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Broadridge Financial Solutions posted a net profit margin of 9.33% and a return on equity of 40.29%. The company’s revenue for the quarter increased 7.3% year-on-year. His EPS for the company in the same period last year was $1.93. As a group, equity analysts expect Broadridge Financial Solutions to post earnings per share of 6.91 for the current financial year.

Broadridge Financial Solutions Dividend Announcement

The company recently announced its quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15 were awarded a dividend of $0.725 per share. The ex-dividend date was Tuesday, March 14. This represents his $2.90 dividend and his 1.90% dividend yield on an annualized basis. Broadridge Financial Solutions’ dividend payout ratio (DPR) is currently 62.23%.

Insider Trading at Broadridge Financial Solutions

In related news, SVP Robert Schifellite sold 15,695 shares in the company in a transaction on Thursday, May 4th. The shares were sold at an average price of $152.59, giving him a total of $2,394,900.05. Following the closing of the sale, the Senior Vice President now directly owns 50,314 shares of the Company’s stock valued at $7,677,413.26. The sale was disclosed in his SEC filings available at this hyperlink. In related news, SVP Robert Schifellite sold 15,695 shares of the company in his Thursday, May 4th deal. The shares were sold at an average price of $152.59, giving him a total of $2,394,900.05. Following the closing of the sale, the Senior Vice President now directly owns 50,314 shares of the Company’s stock valued at $7,677,413.26. The sale was disclosed in SEC filings available at this hyperlink. VP Richard John Stingi also sold 750 shares of the company in a transaction on Thursday, May 4th. The shares sold for an average of $155.27, and the total transaction value he had was $116,452.50. Following the closing of the sale, Vice President now directly owns 4,202 shares of the Company’s stock valued at $652,444.54. Please see here for the disclosure of this sale. In the last three months, the insider has sold 17,870 shares of his company stock worth $2,712,363. The insider owns his 1.60% of the company’s shares.

Broadridge Financial Solutions Profile

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Broadridge Financial Solutions, Inc is committed to providing investor communications and technology solutions to banks, broker-dealers, mutual funds and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communications Solutions segment offers broker-dealer investor communications, customer communications, corporate issuers, advisor solutions, mutual funds and retirement solutions.

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Broadridge Financial Solutions (NYSE:BR) Quarterly Institutional Ownership

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