California Public Employees Retirement System Acquires 3,840 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

California Public Employees Retirement System grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,194 shares of the business services provider’s stock after purchasing an additional 3,840 shares during the period. California Public Employees Retirement System’s holdings in Broadridge Financial Solutions were worth $150,855,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BR. RWA Wealth Partners LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $1,411,000. CWM LLC boosted its position in Broadridge Financial Solutions by 8.3% in the fourth quarter. CWM LLC now owns 5,648 shares of the business services provider’s stock worth $1,162,000 after purchasing an additional 431 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Broadridge Financial Solutions by 2.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,295 shares of the business services provider’s stock valued at $2,324,000 after purchasing an additional 233 shares during the period. Signaturefd LLC boosted its holdings in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after buying an additional 58 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in Broadridge Financial Solutions by 25.7% in the fourth quarter. Lindbrook Capital LLC now owns 362 shares of the business services provider’s stock worth $74,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $195.91 on Wednesday. The firm has a market capitalization of $23.07 billion, a P/E ratio of 34.13 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $139.52 and a 52 week high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The company has a fifty day simple moving average of $200.70 and a two-hundred day simple moving average of $194.45.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Raymond James raised their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $206.67.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by insiders.

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.