Public Employees Retirement Association of Colorado Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Public Employees Retirement Association of Colorado cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,596 shares of the business services provider’s stock after selling 233 shares during the period. Public Employees Retirement Association of Colorado owned about 0.11% of Broadridge Financial Solutions worth $26,121,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. Oregon Public Employees Retirement Fund increased its position in Broadridge Financial Solutions by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after purchasing an additional 50 shares during the period. Garrison Asset Management LLC increased its position in Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 50 shares during the period. Hutchens & Kramer Investment Management Group LLC increased its position in Broadridge Financial Solutions by 4.5% during the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after purchasing an additional 51 shares during the period. TIAA Trust National Association boosted its stake in shares of Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 52 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Broadridge Financial Solutions by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after acquiring an additional 52 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on BR shares. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Price Performance

BR stock opened at $208.99 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50 day moving average price is $210.29 and its 200 day moving average price is $203.28. The firm has a market cap of $24.70 billion, a P/E ratio of 35.66 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $3.21 EPS. Broadridge Financial Solutions’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions 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.