Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,252 shares of the business services provider’s stock after selling 418 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Broadridge Financial Solutions were worth $1,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Qsemble Capital Management LP acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $1,412,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $483,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Broadridge Financial Solutions by 121.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after purchasing an additional 6,336 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In related news, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock worth $29,397,793 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BR. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. UBS Group lifted their price target 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. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $233.03 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The stock has a 50 day moving average of $236.05 and a two-hundred day moving average of $226.73. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.27 billion, a P/E ratio of 36.47 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $0.92 earnings per share. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.