Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,918 shares of the business services provider's stock after selling 22,028 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Broadridge Financial Solutions worth $40,904,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BR. Minot DeBlois Advisors LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $36,000. Global X Japan Co. Ltd. purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. Curio Wealth LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Finally, Promus Capital LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at $52,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 1.2%

NYSE:BR traded up $2.89 on Friday, hitting $242.61. The stock had a trading volume of 1,379,327 shares, compared to its average volume of 523,871. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01. The stock has a market cap of $28.50 billion, a price-to-earnings ratio of 37.97 and a beta of 0.98. The company has a fifty day moving average price of $235.89 and a two-hundred day moving average price of $234.19. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 earnings per share. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 22,357 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now owns 52,524 shares in the company, valued at $12,355,220.52. This trade represents a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,873 shares of company stock worth $31,337,863 over the last three months. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BR. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank of Canada restated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of "Hold" and an average price target of $250.83.

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.