State Board of Administration of Florida Retirement System Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

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State Board of Administration of Florida Retirement System lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,046 shares of the business services provider’s stock after selling 493 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Broadridge Financial Solutions worth $20,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Broadridge Financial Solutions by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 648,360 shares of the business services provider’s stock valued at $62,403,000 after purchasing an additional 19,230 shares during the period. Strs Ohio increased its position in Broadridge Financial Solutions by 1.2% during the 1st quarter. Strs Ohio now owns 19,423 shares of the business services provider’s stock valued at $2,013,000 after purchasing an additional 225 shares during the period. CWM LLC increased its position in Broadridge Financial Solutions by 36.8% during the 1st quarter. CWM LLC now owns 1,015 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 273 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $984,000. Finally, Investec Asset Management LTD acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $12,838,000. Institutional investors own 86.75% of the company’s stock.

In related news, insider Douglas Richard Deschutter sold 17,500 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $130.37, for a total value of $2,281,475.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy C. Gokey sold 37,737 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $126.48, for a total value of $4,772,975.76. Following the completion of the transaction, the insider now owns 110,349 shares in the company, valued at $13,956,941.52. The disclosure for this sale can be found here. Insiders have sold a total of 215,165 shares of company stock worth $27,433,672 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Broadridge Financial Solutions stock opened at $127.46 on Friday. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 2.56 and a beta of 0.72. Broadridge Financial Solutions, Inc. has a 52-week low of $91.34 and a 52-week high of $138.24. The stock’s 50 day moving average price is $130.15 and its two-hundred day moving average price is $117.71. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.30 and a current ratio of 1.30.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 EPS. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 5.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 41.63%.

A number of analysts have weighed in on BR shares. Raymond James downgraded shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 31st. DA Davidson downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price for the company. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. SunTrust Banks increased their target price on shares of Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Broadridge Financial Solutions currently has an average rating of “Buy” and an average target price of $129.20.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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