California Public Employees Retirement System Has $150.86 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

California Public Employees Retirement System lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,194 shares of the business services provider's stock after buying an additional 3,840 shares during the quarter. California Public Employees Retirement System owned approximately 0.62% of Broadridge Financial Solutions worth $150,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BR. Procyon Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider's stock valued at $477,000 after acquiring an additional 52 shares during the period. Optas LLC raised its stake in shares of Broadridge Financial Solutions by 3.8% during the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider's stock valued at $322,000 after purchasing an additional 57 shares in the last quarter. Signaturefd LLC raised its stake in shares of Broadridge Financial Solutions by 3.8% during the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider's stock valued at $328,000 after purchasing an additional 58 shares in the last quarter. Teamwork Financial Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 1.6% during the fourth quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider's stock valued at $841,000 after purchasing an additional 63 shares in the last quarter. Finally, Tributary Capital Management LLC raised its position in Broadridge Financial Solutions by 1.6% in the fourth quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider's stock worth $900,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares of the company's stock, valued at approximately $8,891,320. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares of the company's stock, valued at $2,674,169.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on BR. Raymond James boosted their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, April 12th. Evercore ISI reissued an "outperform" rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an "outperform" rating in a research note on Friday, February 2nd. Finally, DA Davidson reissued a "neutral" rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Down 0.4 %

NYSE:BR traded down $0.83 on Wednesday, hitting $195.08. 255,804 shares of the company's stock traded hands, compared to its average volume of 507,409. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a 1 year low of $139.52 and a 1 year high of $210.24. The firm has a 50-day moving average price of $200.70 and a 200-day moving average price of $194.45. The company has a market cap of $22.97 billion, a PE ratio of 33.99 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. Broadridge Financial Solutions's payout ratio is 55.75%.

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.