California State Teachers Retirement System Cuts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

California State Teachers Retirement System lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,433 shares of the business services provider’s stock after selling 17,580 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Broadridge Financial Solutions worth $16,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $108,000. Toronto Dominion Bank increased its position in Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 149 shares in the last quarter. Global X Management Co. LLC increased its position in Broadridge Financial Solutions by 8.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 120 shares in the last quarter. Advisory Services Network LLC increased its position in Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 706 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its position in Broadridge Financial Solutions by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.

Broadridge Financial Solutions, Inc. (NYSE BR) traded up $0.59 during trading on Friday, reaching $94.04. 361,679 shares of the company traded hands, compared to its average volume of 381,408. Broadridge Financial Solutions, Inc. has a twelve month low of $65.35 and a twelve month high of $94.31. The company has a market cap of $10,891.83, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $923.68 million. During the same quarter last year, the firm earned $0.36 EPS. Broadridge Financial Solutions’s quarterly revenue was up 3.4% compared to the same quarter last year. research analysts anticipate that Broadridge Financial Solutions, Inc. will post 3.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 15th were paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, December 14th. Broadridge Financial Solutions’s payout ratio is 50.87%.

In other Broadridge Financial Solutions news, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total value of $677,544.05. Following the transaction, the director now owns 44,482 shares of the company’s stock, valued at $3,937,101.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Schifellite sold 49,181 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the completion of the transaction, the insider now directly owns 149,181 shares in the company, valued at approximately $13,347,224.07. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

BR has been the subject of several analyst reports. Barclays lifted their price target on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. DA Davidson reiterated a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. Finally, Zacks Investment Research cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $90.50.

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Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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

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