New York State Common Retirement Fund Buys 4,270 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

New York State Common Retirement Fund raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,186 shares of the business services provider's stock after buying an additional 4,270 shares during the period. New York State Common Retirement Fund owned about 0.07% of Broadridge Financial Solutions worth $19,684,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. D.A. Davidson & CO. bought a new position in Broadridge Financial Solutions in the first quarter worth approximately $217,000. Curio Wealth LLC bought a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $45,000. CWA Asset Management Group LLC boosted its holdings in Broadridge Financial Solutions by 6.8% in the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after acquiring an additional 87 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Broadridge Financial Solutions in the first quarter worth approximately $29,000. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 9.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock worth $279,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded up $2.25 during trading hours on Thursday, reaching $237.11. The stock had a trading volume of 151,270 shares, compared to its average volume of 527,343. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day simple moving average of $239.69 and a 200 day simple moving average of $236.24. Broadridge Financial Solutions, Inc. has a 12-month low of $200.63 and a 12-month high of $247.01. The stock has a market cap of $27.85 billion, a P/E ratio of 35.65 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

Insider Buying and Selling

In related news, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director owned 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider directly owned 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BR has been the topic of a number of recent research reports. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $250.83.

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.