California State Teachers Retirement System raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,734 shares of the business services provider’s stock after acquiring an additional 7,651 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Broadridge Financial Solutions worth $18,454,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. lifted its holdings in Broadridge Financial Solutions by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 270,266 shares of the business services provider’s stock valued at $26,013,000 after acquiring an additional 11,259 shares during the period. Natixis Advisors L.P. lifted its holdings in Broadridge Financial Solutions by 4.7% in the fourth quarter. Natixis Advisors L.P. now owns 30,903 shares of the business services provider’s stock valued at $2,974,000 after acquiring an additional 1,385 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Broadridge Financial Solutions by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 648,360 shares of the business services provider’s stock valued at $62,403,000 after acquiring an additional 19,230 shares during the period. United Services Automobile Association lifted its holdings in Broadridge Financial Solutions by 2.2% in the fourth quarter. United Services Automobile Association now owns 113,058 shares of the business services provider’s stock valued at $10,882,000 after acquiring an additional 2,384 shares during the period. Finally, Townsquare Capital LLC bought a new position in Broadridge Financial Solutions in the fourth quarter valued at about $1,820,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BR opened at $103.55 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.62 and a current ratio of 1.62. Broadridge Financial Solutions, Inc. has a 52 week low of $91.34 and a 52 week high of $138.24. The stock has a market capitalization of $11.62 billion, a PE ratio of 24.71, a P/E/G ratio of 2.18 and a beta of 0.84.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a return on equity of 43.95% and a net margin of 10.25%. The company had revenue of $953.40 million during the quarter, compared to the consensus estimate of $967.21 million. During the same period last year, the business earned $0.79 EPS. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 4.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.
In other news, Director Alan J. Weber sold 1,980 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $100.36, for a total value of $198,712.80. Following the transaction, the director now owns 51,588 shares of the company’s stock, valued at $5,177,371.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.
A number of research analysts have weighed in on the company. Raymond James raised Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Wednesday. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Monday, February 11th. DA Davidson raised Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Friday, February 8th. SunTrust Banks reissued a “buy” rating and issued a $110.00 target price on shares of Broadridge Financial Solutions in a report on Sunday, January 6th. Finally, Rosenblatt Securities assumed coverage on Broadridge Financial Solutions in a report on Wednesday, December 5th. They issued a “neutral” rating and a $110.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Broadridge Financial Solutions currently has an average rating of “Buy” and a consensus target price of $118.67.
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.
Further Reading: Buy-Side Analysts
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