Police & Firemen s Retirement System of New Jersey Has $4.33 Million Stock Position in Broadridge Financial Solutions, Inc. $BR

Police & Firemen s Retirement System of New Jersey increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,830 shares of the business services provider’s stock after acquiring an additional 712 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Broadridge Financial Solutions were worth $4,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $580,000. CWM LLC grew its position in Broadridge Financial Solutions by 2.9% during the first quarter. CWM LLC now owns 7,680 shares of the business services provider’s stock valued at $1,862,000 after purchasing an additional 216 shares in the last quarter. Larson Financial Group LLC increased its stake in Broadridge Financial Solutions by 275.0% in the 1st quarter. Larson Financial Group LLC now owns 1,020 shares of the business services provider’s stock valued at $247,000 after buying an additional 748 shares during the period. Victory Capital Management Inc. lifted its position in Broadridge Financial Solutions by 55.1% in the 1st quarter. Victory Capital Management Inc. now owns 75,544 shares of the business services provider’s stock worth $18,316,000 after buying an additional 26,844 shares in the last quarter. Finally, Graypoint LLC boosted its stake in shares of Broadridge Financial Solutions by 15.6% during the 1st quarter. Graypoint LLC now owns 1,163 shares of the business services provider’s stock valued at $282,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the topic of a number of research reports. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group reduced their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday. Needham & Company LLC boosted their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Morgan Stanley dropped their price objective on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, DA Davidson reiterated a “neutral” rating and issued a $240.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $259.83.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $225.92 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $233.79 and a 200-day simple moving average of $241.29. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 28.93 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1-year low of $212.33 and a 1-year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be paid a $0.975 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s payout ratio is presently 49.94%.

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.