California State Teachers Retirement System Cuts Stock Holdings in Broadridge Financial Solutions, Inc. $BR

California State Teachers Retirement System lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,862 shares of the business services provider’s stock after selling 3,721 shares during the period. California State Teachers Retirement System owned about 0.17% of Broadridge Financial Solutions worth $32,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio raised its stake in shares of Broadridge Financial Solutions by 25.8% during the 1st quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock worth $7,927,000 after buying an additional 9,996 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $4,211,000. UNIVEST FINANCIAL Corp purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $8,227,000. New Age Alpha Advisors LLC grew its holdings in Broadridge Financial Solutions by 51.6% during the fourth quarter. New Age Alpha Advisors LLC now owns 36,911 shares of the business services provider’s stock worth $8,237,000 after acquiring an additional 12,569 shares during the period. Finally, Cvfg LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $2,463,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $154.02 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $133.83 and a 1-year high of $271.91. The company has a market capitalization of $17.81 billion, a P/E ratio of 16.49 and a beta of 0.89. The business has a 50 day moving average price of $146.80 and a 200 day moving average price of $164.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94.

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

Broadridge Financial Solutions Announces Dividend

The company also recently declared 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 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 dividend payout ratio (DPR) is currently 41.76%.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total transaction of $304,730.00. Following the completion of the transaction, the insider owned 1 shares of the company’s stock, valued at $155. The trade was a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Broadridge Financial Solutions Company Profile

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.