Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,186 shares of the business services provider’s stock after selling 1,815 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Broadridge Financial Solutions were worth $9,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bogart Wealth LLC increased its position in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares during the period. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% during the third 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 during the period. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in Broadridge Financial Solutions during the third quarter worth approximately $38,000. Finally, FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on BR shares. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Stock Down 0.5 %

Broadridge Financial Solutions stock opened at $239.01 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47. The company has a market cap of $27.97 billion, a PE ratio of 37.40 and a beta of 1.08. The stock’s 50 day moving average price is $232.69 and its 200 day moving average price is $222.98.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

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.