California State Teachers Retirement System Trims Stock Position in Broadridge Financial Solutions, Inc. $BR

California State Teachers Retirement System cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,862 shares of the business services provider’s stock after selling 3,721 shares during the quarter. California State Teachers Retirement System’s holdings in Broadridge Financial Solutions were worth $32,799,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BR. Reflection Asset Management acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $25,000. Nemes Rush Group LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $27,000. Prosperity Bancshares Inc acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $28,000. WPG Advisers LLC increased its position in Broadridge Financial Solutions by 77.5% during the fourth quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Finally, Evolution Wealth Management Inc. purchased a new position in Broadridge Financial Solutions during the first quarter worth $36,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Down 0.5%

BR stock opened at $154.02 on Friday. The stock has a market capitalization of $17.81 billion, a P/E ratio of 16.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.94 and a current ratio of 0.94. Broadridge Financial Solutions, Inc. has a one year low of $133.83 and a one year high of $271.91. The company has a 50 day moving average price of $146.80 and a two-hundred day moving average price of $164.86.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.09. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the firm posted $2.44 EPS. Broadridge Financial Solutions’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 9.55 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a $0.975 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.5%. Broadridge Financial Solutions’s payout ratio is currently 41.76%.

Insider Activity at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,966 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the transaction, the insider directly owned 1 shares in the company, valued at approximately $155. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BR has been the topic of several recent research reports. Needham & Company LLC reduced their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, June 22nd. UBS Group dropped their price objective on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, DA Davidson reduced their target price on shares of Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.57.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.