California State Teachers Retirement System Has $26.63 Million Position in Broadridge Financial Solutions, Inc. $BR

California State Teachers Retirement System cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,445 shares of the business services provider's stock after selling 7,417 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Broadridge Financial Solutions worth $26,629,243 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $1,473,918,000. Geode Capital Management LLC boosted its stake in shares of Broadridge Financial Solutions by 0.4% in the 4th 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 during the period. Barclays PLC boosted its stake in shares of Broadridge Financial Solutions by 1.8% during the fourth quarter. Barclays PLC now owns 2,007,968 shares of the business services provider's stock worth $448,118,000 after buying an additional 35,169 shares during the period. Jupiter Topco LLC acquired a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $261,852,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Broadridge Financial Solutions by 11.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,875,684 shares of the business services provider's stock valued at $256,875,000 after acquiring an additional 190,301 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $3.01 during mid-day trading on Tuesday, hitting $171.38. The stock had a trading volume of 300,845 shares, compared to its average volume of 1,394,827. The company's 50-day simple moving average is $164.61 and its 200-day simple moving average is $160.15. The firm has a market cap of $19.54 billion, a PE ratio of 17.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. Broadridge Financial Solutions, Inc. has a fifty-two week low of $133.83 and a fifty-two week high of $250.26.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.06. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the business earned $3.55 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Thursday, September 3rd will be given a dividend of $1.09 per share. The ex-dividend date is Thursday, September 3rd. This represents a $4.36 annualized dividend and a dividend yield of 2.5%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's dividend payout ratio (DPR) is 45.32%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BR. Morgan Stanley increased their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. UBS Group reissued a "neutral" rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research note on Friday, August 7th. Finally, Royal Bank Of Canada increased their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $216.00.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc NYSE: BR is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company's offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.

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