Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 36.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,005 shares of the business services provider's stock after selling 76,024 shares during the period. Teacher Retirement System of Texas owned 0.11% of Broadridge Financial Solutions worth $31,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at about $45,000. CWA Asset Management Group LLC raised its position in shares of 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 valued at $332,000 after buying an additional 87 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Broadridge Financial Solutions by 12.3% during the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after buying an additional 72 shares during the period. Brighton Jones LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $580,000. Finally, Proficio Capital Partners LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $25,773,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

BR has been the subject of several analyst reports. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Trading Up 1.7%

Shares of BR opened at $242.13 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $198.71 and a twelve month high of $247.01. The firm has a market capitalization of $28.44 billion, a P/E ratio of 36.41 and a beta of 0.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The stock's fifty day simple moving average is $239.37 and its 200 day simple moving average is $235.55.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping 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 44.82% and a net margin of 11.65%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $2.23 EPS. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider owned 21,167 shares in the company, valued at $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.