Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,854 shares of the business services provider’s stock after selling 552 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Broadridge Financial Solutions were worth $5,619,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $39,000. Global X Japan Co. Ltd. purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $41,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $239.17.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 514 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of BR opened at $233.03 on Friday. The stock has a market capitalization of $27.27 billion, a PE ratio of 36.47 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The company’s 50-day simple moving average is $236.05 and its 200-day simple moving average is $226.73.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results 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 net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the firm earned $0.92 EPS. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Broadridge Financial Solutions Company 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.