Retirement Systems of Alabama decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,146 shares of the business services provider’s stock after selling 162 shares during the period. Retirement Systems of Alabama’s holdings in Broadridge Financial Solutions were worth $6,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BR. Whipplewood Advisors LLC lifted its holdings in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at $36,000. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Finally, Promus Capital LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Broadridge Financial Solutions Price Performance
BR stock opened at $241.97 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $28.42 billion, a PE ratio of 36.39 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12-month low of $195.64 and a 12-month high of $247.01. The business’s fifty day moving average price is $238.56 and its 200 day moving average price is $235.25.
Broadridge Financial Solutions Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.
Insider Transactions at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,556 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the transaction, the director now owns 30,892 shares in the company, valued at $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on BR. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $250.83.
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.
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