Retirement Systems of Alabama Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Retirement Systems of Alabama lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,929 shares of the business services provider’s stock after selling 778 shares during the quarter. Retirement Systems of Alabama’s holdings in Broadridge Financial Solutions were worth $5,335,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Shufro Rose & Co. LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $514,000. Transcend Capital Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 11.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 8,112 shares of the business services provider’s stock worth $1,669,000 after purchasing an additional 809 shares during the period. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $34,000. Citizens Financial Group Inc. RI lifted its stake in shares of Broadridge Financial Solutions by 3.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 2,343 shares of the business services provider’s stock worth $482,000 after purchasing an additional 81 shares during the period. Finally, Golden State Equity Partners increased its holdings in shares of Broadridge Financial Solutions by 30.5% during the 4th quarter. Golden State Equity Partners now owns 2,356 shares of the business services provider’s stock worth $485,000 after buying an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 over the last quarter. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $198.85 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions, Inc. has a one year low of $144.54 and a one year high of $210.24. The company’s 50-day simple moving average is $200.27 and its 200-day simple moving average is $195.29. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 34.64 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $0.91 earnings per share. Broadridge Financial Solutions’s revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BR shares. Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Raymond James upped their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

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.