California State Teachers Retirement System Buys 26,427,381 Shares of Broadridge Financial Solutions, Inc. $BR

California State Teachers Retirement System boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13,091.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,629,243 shares of the business services provider’s stock after buying an additional 26,427,381 shares during the quarter. California State Teachers Retirement System owned 0.23% of Broadridge Financial Solutions worth $3,646,875,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Great Valley Advisor Group Inc. raised its stake in Broadridge Financial Solutions by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 994 shares of the business services provider’s stock worth $242,000 after acquiring an additional 50 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Broadridge Financial Solutions by 3.9% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 1,608 shares of the business services provider’s stock worth $383,000 after buying an additional 61 shares during the period. Bontempo Ohly Capital Mgmt LLC increased its stake in Broadridge Financial Solutions by 0.3% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,895 shares of the business services provider’s stock worth $4,217,000 after buying an additional 62 shares in the last quarter. Appleton Partners Inc. MA raised its holdings in Broadridge Financial Solutions by 0.5% during the first quarter. Appleton Partners Inc. MA now owns 12,137 shares of the business services provider’s stock valued at $1,972,000 after acquiring an additional 65 shares during the period. Finally, Advisory Services Network LLC lifted its position in shares of Broadridge Financial Solutions by 0.5% in the fourth quarter. Advisory Services Network LLC now owns 14,580 shares of the business services provider’s stock valued at $3,254,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $168.09 on Friday. The business’s 50-day moving average is $163.55 and its 200 day moving average is $160.23. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $255.74. The company has a market capitalization of $19.17 billion, a P/E ratio of 17.47 and a beta of 0.90. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.06. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%.The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 2.6%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.97. The ex-dividend date is Thursday, September 3rd. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 45.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Broadridge Financial Solutions in a report on Friday, August 7th. UBS Group restated a “neutral” rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Finally, Royal Bank Of Canada increased their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE:BR) is a global financial technology company that provides technology, communications and data solutions to financial services firms, public companies and other organizations. Its services support critical business processes across the financial markets, including investor communications, securities processing, capital markets operations and wealth management.

The company’s offerings include proxy and regulatory communications, shareholder communications, trading and operations platforms, portfolio and order management tools, and technology for banks, broker-dealers, asset managers and wealth managers.