State of New Jersey Common Pension Fund D Lowers Stake in Broadridge Financial Solutions, Inc. $BR

Key Points

• The State of New Jersey Common Pension Fund D has sold 4,444 shares of Broadridge Financial Solutions, reducing its stake by 11.1%, leaving it with 35,742 shares valued at approximately $8.67 million.
• Broadridge Financial Solutions recently announced an increase in its quarterly dividend to $0.975, with a yield of 1.5%, reflecting a positive outlook for the company's financial health.
• CEO Timothy C. Gokey sold 84,571 shares amounting to about $21.95 million, marking a 33.80% decrease in his ownership stake.

State of New Jersey Common Pension Fund D cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,742 shares of the business services provider's stock after selling 4,444 shares during the period. State of New Jersey Common Pension Fund D's holdings in Broadridge Financial Solutions were worth $8,666,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Ethic Inc. increased its position in shares of Broadridge Financial Solutions by 16.6% during the first quarter. Ethic Inc. now owns 28,368 shares of the business services provider's stock worth $6,942,000 after purchasing an additional 4,040 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Broadridge Financial Solutions by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 990,168 shares of the business services provider's stock valued at $240,037,000 after acquiring an additional 18,388 shares during the period. Horizon Investments LLC increased its position in shares of Broadridge Financial Solutions by 5.3% in the 1st quarter. Horizon Investments LLC now owns 1,680 shares of the business services provider's stock valued at $407,000 after acquiring an additional 85 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 26,264 shares of the business services provider's stock valued at $6,368,000 after acquiring an additional 71 shares during the period. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of Broadridge Financial Solutions by 101.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 7,954 shares of the business services provider's stock valued at $1,929,000 after acquiring an additional 4,012 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR traded down $1.2820 during midday trading on Thursday, hitting $260.5780. 529,615 shares of the company were exchanged, compared to its average volume of 590,391. The company's 50 day simple moving average is $246.55 and its 200 day simple moving average is $240.27. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 36.75 and a beta of 0.94. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 1-year low of $206.95 and a 1-year high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $3.50 EPS. Broadridge Financial Solutions has set its FY 2026 guidance at 9.230-9.580 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is currently 49.65%.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the sale, the insider directly owned 21,167 shares of the company's stock, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maura A. Markus sold 3,556 shares of the 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 sale, the director directly owned 30,892 shares in the company, valued at approximately $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,470 shares of company stock valued at $39,026,774. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

BR has been the topic of several research reports. Morgan Stanley upped their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC upped their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $261.50.

Broadridge Financial Solutions Company 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.