Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,300 shares of the business services provider’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Broadridge Financial Solutions were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Adero Partners LLC raised its stake in shares of Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after buying an additional 45 shares in the last quarter. Avestar Capital LLC raised its holdings in shares of Broadridge Financial Solutions by 4.0% in the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after purchasing an additional 48 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares during the last quarter. UMB Bank n.a. lifted its stake in Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 57 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Broadridge Financial Solutions by 12.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 526 shares of the business services provider’s stock worth $119,000 after buying an additional 57 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BR. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $239.17.

Insider Buying and Selling

In related news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,666 shares of company stock worth $5,050,766 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

BR opened at $240.40 on Monday. The business has a fifty day simple moving average of $232.49 and a 200 day simple moving average of $222.64. The company has a market capitalization of $28.13 billion, a PE ratio of 37.62 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business earned $0.92 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.