California Public Employees Retirement System Has $44.46 Million Stake in Broadridge Financial Solutions, Inc. $BR

Key Points

• CalPERS reduced its Broadridge stake by 10% in the first quarter, selling 30,301 shares and leaving it with 273,611 shares valued at about $44.46 million.
• Broadridge posted solid quarterly results, with EPS of $2.72 beating estimates and revenue of $1.95 billion also topping expectations; revenue rose 7.8% year over year.
• The company continues to reward shareholders with a quarterly dividend of $0.975 per share, equal to an annualized yield of about 2.6%, while analysts currently rate the stock a Moderate Buy with an average target of $221.57.

California Public Employees Retirement System trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 273,611 shares of the business services provider's stock after selling 30,301 shares during the period. California Public Employees Retirement System owned about 0.24% of Broadridge Financial Solutions worth $44,456,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Broadridge Financial Solutions by 6.7% in the 4th quarter. State Street Corp now owns 5,994,841 shares of the business services provider's stock worth $1,343,572,000 after purchasing an additional 375,699 shares during the last quarter. Geode Capital Management LLC boosted its position in Broadridge Financial Solutions by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,354,869 shares of the business services provider's stock valued at $746,062,000 after buying an additional 12,524 shares in the last quarter. Barclays PLC boosted its position in Broadridge Financial Solutions by 1.8% in the fourth quarter. Barclays PLC now owns 2,007,968 shares of the business services provider's stock valued at $448,118,000 after buying an additional 35,169 shares in the last quarter. Northern Trust Corp grew its position in Broadridge Financial Solutions by 6.6% during the 3rd quarter. Northern Trust Corp now owns 1,711,824 shares of the business services provider's stock worth $407,705,000 after acquiring an additional 105,696 shares during the last quarter. Finally, Norges Bank acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $346,304,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the sale, the insider owned 1 shares of the company's stock, valued at approximately $155. The trade was a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $149.90 on Tuesday. The business's 50-day simple moving average is $146.21 and its 200 day simple moving average is $168.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.97. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 16.05 and a beta of 0.89. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.09. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.410-9.580 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 9.55 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $0.975 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.90 dividend on an annualized basis and a yield of 2.6%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 41.76%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BR shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of Broadridge Financial Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Needham & Company LLC decreased their price objective on shares of Broadridge Financial Solutions from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, May 1st. DA Davidson lowered their price objective on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Finally, UBS Group reduced their target price on shares of Broadridge Financial Solutions from $250.00 to $165.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $221.57.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm's core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.